The Kuwait Authority for Partnership Projects (KAPP) says the IPO (Kuwait's first ever) of 50% of the shares in Shamal Az-Zour was oversubscribed. The company, developer of the completed 1.54GW Az-Zour North-1 power plant and linked desal plant, will be listed on the Boursa Kuwait.

Remaining shares in Shamal Az-Zour are owned 40% by a consortium of France’s Engie, Japan’s Sumitomo and Kuwait’s AH al-Sagar & Brothers and 5% each by the Kuwait Investment Authority and government’s Public Institution for Social Security. The 50% offered in the IPO was held by KAPP on behalf of the government as it prepared the IPO. (CONTINUED - 130 WORDS)