KIPCO – the Kuwait Projects Company – and its partner Mawarid Group have announced that they have appointed Rothschild as the sole financial advisor to the pay-TV company OSN.
Rothschild will evaluate OSN’s strategy and business and advise OSN’s shareholders on the options available for an Initial Public Offering (IPO) of the company. KIPCO and Mawarid Group respectively own 60.5% and 39.5% of OSN.
OSN has achieved substantial growth in both revenue and subscribers since the company was created in a merger in 2009.
KIPCO’s Vice Chairman, Mr Faisal Al Ayyar, said:
“When OSN was formed in 2009, it began a revolution of the pay-TV experience in the Middle East and North Africa. Since then OSN has become one of the fastest-growing TV companies in the world. It has done this by offering viewers the most extensive choice in quality entertainment of any pay-TV platform in the region. This choice is complemented by customers being able to watch what they want, when they want and how they want. OSN’s market position and potential for future growth has created an opportunity for an IPO that we now want to explore with our partner Mawarid Group.”