Dow Petchems JVs To Be Floated On Kuwait Exchange

Stakes in at least three of US Petchems giant Dow’s four Kuwait JVs are to be floated on the Kuwaiti stock exchange next year.

Kuwait’s state-owned Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation, this week said that part of Dow Chemical’s 42.5-50% stakes in three of its four joint ventures with the Kuwaiti state firm will be sold in an IPO targeted at Kuwaiti citizens.

This follows a 12 November announcement by Dow that it “will reconfigure and reduce its equity base in the MEGlobal and Greater EQUATE joint ventures, including Kuwait Olefins Company and Kuwait Styrene Company, through a divestment of a portion of the Company’s interests.” (CONTINUED - 603 WORDS)

DATA INSIDE THIS ARTICLE

table Dow Jvs With Kuwaiti Firms