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Overview

Atlantic Investment Financial Investment Company is a Kuwaiti company, engaged in investment activities and financial services primarily in Kuwait, the Middle East, Asia, and other emerging markets. Atlantic Investment provides a broad range of financial services, which include advisory services, underwriting, syndications and asset management. Atlantic Investment follows a diversified investment strategy with major investments in private equity and direct investments in the capital markets. Atlantic Investment actively invests in the Kuwaiti capital markets and also diversifies its investments through the international capital markets, which include other GCC countries, emerging markets such as Pakistan, China and India, and also limited exposure in the developed markets of the US and Europe.

Prior to becoming established as the financial arm of National Industries Group Holding, between 1997 and 2004 Atlantic Investment was a dormant company with no commercial activities; in November 2004 Atlantic Investment acquired its current name and increased its share capital from KD 1 million to KD 25 million through the issuance of additional shares to NIG. Atlantic Investment subsequently commenced commercial operations under a temporary license, and was formally granted its investment company license in November 2005.

Between 2004 and 2005, 49% of Atlantic Investment equity share capital was privately placed with the shareholders of NIG, thereby reducing NIG's ownership of Atlantic Investment from 100% to 51% (including indirect holdings). Atlantic Investment was listed on the Kuwait Stock Exchange in May 2006; and completed a rights issue in the first quarter of 2007 in which 250 million shares were issued at a premium of 200 fils per share which increased its paid-up share capital from KD 25 million to KD 50 million, raising a total sum of KD 75 million. A further rights issue took place in the first quarter of 2008 in which 250 million shares were issued at a premium of 300 fils per share. This increased Atlantic Investment paid-up share capital by KD 25 million and raised total capital of KD 100 million. The proceeds of these issues were used to retire debt and to provide liquidity for further investments.