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Agility Public Warehousing Company KSCP (Agility KSCP) said it will invest more than 100 million Kuwaiti dinars ($326.5 million) by 2030 in projects including the development of new economic zones, data centers, and to strengthen supply chains.
To support these initiatives, Agility KSCP will distribute an in-kind dividend consisting of approximately 20% of its stake in Agility Global PLC, which is listed on the Abu Dhabi Securities Exchange (ADX). Under the approved terms, eligible shareholders of Agility KSCP will receive 82 shares of Agility Global PLC for every 100 shares they hold in Agility KSCP.
This move is expected to increase Agility Global PLC’s free float, improve share liquidity, and enhance price discovery. The company hopes that these changes will position Agility Global PLC for "greater visibility and potential inclusion in key equity indices".
In a separate statement to the ADX, Agility Global PLC, which is 51% owned by the Kuwait logistics firm, confirmed the approval of an increase in a loan to $110 million, provided by one of its subsidiaries to Agility KSCP.
Additionally, following regulatory approval, Agility Global PLC will repurchase 615 million of its own shares—equivalent to 5.9% of its share capital—from a subsidiary of Agility KSCP. The payment for these shares will be made as a partial settlement of the outstanding loan.
Following the share buyback and the in-kind dividend distribution, Agility KSCP’s indirect stake in Agility Global PLC, held through its subsidiary, will be reduced to 25%.
Earlier this week, Tristar, a unit of Agility Global, signed a $255 million new credit facility with several regional and international banks for refinancing and general corporate purposes.
(Writing by Brinda Darasha; editing by Seban Scaria)
