Kuwait’s Alafco picks Deutsche to ‘advise’ on its London listing - Timing of GDR and amount still unknown

Kuwaiti aircraft leasing company Alafco has hired Deutsche Bank to advise it on a potential sale of global depositary receipts (GDRs) in London. The bank is looking at Alafco’s operations to ensure it is ready for the additional scrutiny that comes with a London listing. The timing of the GDR sale and the amount, if any, that a listing could raise were still unknown. Alafco made a profit of 25.6 million dinars ($89.7 million) in its last financial year ended on Sept. 30, 2012, a 45 percent decline from the previous year.

UPDATE 1-Kuwait Finance House unit Alafco mulls listing abroad

Alafco, a Kuwait-based Aircraft leasing group, may list some of its shares on an international exchange. The idea reportedly came from shareholders. However, the size of the stake that could be listed or on which exchange was not announced. Kuwait Finance House owns a 53.69 percent stake in Alafco, the rest belongs to State-run Kuwait Airways Corporation and private investors.

ALAFCO signs $2.7b deal for 30 A320neo

ALAFCO announced a $2.7 billion deal to buy 30 Airbus A320neo.
The aircraft leasing firm signed a Memorandum of Understanding (MoU) at the 49th Paris Air Show in Le Bourget.
ALAFCO already ordered 26 A320s of which 25 have been delivered. Including this order, now ALAFCO’s total order for Airbus single aisle aircraft has reached 56.

ALAFCO Aviation Lease And Finance Company Financial Results

ALAFCO Aviation Lease And Finance Company released their Financial Results as published on Zawya on 27 January. Ahmad A. Alzabin announced that the operating profit of the company during the 1st quarter of the current fiscal year that ended 31 December 2008 reached KD 3 million, and that ALAFCOearned a net profit of KD 1.45 mn. The company's assets reached KD 281.21 mn and shareholders equity reached KD 82.29 mn during the quarter.

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