Trolley General Trading Company K.S.C.C. Marks Major Milestone With its Successful Listing on Boursa Kuwait
• Trolley completes listing on Boursa Kuwait (the “Listing”), with the selling shareholders (the “Selling Shareholders”) raising gross proceeds of approximately KWD 59.5 million (equivalent to approximately USD 195 million).
• Strong investor demand reflects confidence in the Company’s growth trajectory, with subscription coverage reaching 15.2x of the initially offered shares.
• Listing and trading on the Boursa Kuwait’s “Premier” Market commenced today under the symbol “TROLLEY” and ISIN “KW0EQ0610414”.
• Based on the final offer price of 618 Kuwaiti Fils per share, Trolley’s market capitalization at the time of admission and prior to trading is approximately KWD 170.0 million (approximately USD 552.58 million).
• The Listing reinforces Trolley’s commitment to transparency, governance excellence, and supporting Kuwait’s capital market development.
Kuwait City, Kuwait, 25 March 2026: Trolley General Trading Company K.S.C.C. (“Trolley”, or the “Company”), a leading convenience-led grocery retailer headquartered in Kuwait City has successfully commenced trading on Boursa Kuwait’s Premier Market following the completion of its private placement (the “Offering”) and trading under the ticker “TROLLEY” and ISIN “KW0EQ0610414”. The selling shareholders raised KWD 59.5 million (equivalent to c. USD 195 million) from local and international investors.
A total of 96,250,000 existing ordinary shares were offered to qualified investors, representing 35% of the Company’s total issued share capital (the “Shares”). The offer price was set at 618 Kuwaiti Fils per share, with Trolley’s market capitalization at approximately KWD 170.0 million (c. USD 552.58 million).
The subscription coverage reached 15.2x of the initially offered shares, reflecting investor confidence in the Company’s fundamentals, management track record, governance standards, and future growth trajectory, highlighting the strength of its business model and the confidence it has earned from a broad mix of regional and global sophisticated investors.
Commenting on the listing, Mr. Faisal Yaqoub Boodai, Chairman of Trolley, said:
“Today marks an important milestone in our journey. Our decision to list on Boursa Kuwait through a private placement reflects our belief in this market, in our investors, and in the business we have built. Since our establishment in 2010, Trolley has grown from a small-scale operation into Kuwait’s leading convenience-led grocery retailer. This listing underscores the confidence our customers have placed in us and highlights the consistency of our growth and adapting to future trends. We are excited to welcome new shareholders as we continue to expand our footprint and enhance our position as the premier destination for quality products.
We extend our sincere gratitude to the Capital Markets Authority in Kuwait and Boursa Kuwait for their commitment to fostering an attractive investment environment and facilitating a seamless listing. We also thank our advisors and all those who contributed to the success of our private placement and listing.
This collective effort has enabled us to stand today as a company listed on the Premier Market and we look ahead to a promising future reflecting our ambitions and those of our shareholders.”
Mr. Mohammad Yaqoub Boodai, Chief Executive Officer, Trolley, added:
“Listing on Boursa Kuwait opens a new chapter for Trolley, one that comes with both opportunity and responsibility. From the very beginning, over 16 years ago, Trolley was founded with a clear vision to redefine convenience in Kuwait and the broader GCC region. Over the years, we have achieved tremendous growth, transitioning from a small-scale operation to a network of over 200 stores across Kuwait and the Kingdom of Saudi Arabia. With our strong foundation and a clear roadmap, today’s milestone provides us with the platform and resources to accelerate that vision. We’re looking forward to welcoming new shareholders to Trolley as we embark on this exciting next step in our journey together.”
Mr. Khaled Waleed Al Falah, the Chairman of the Board of National Investments Company, stated that this initial offering of Trolley witnessed remarkable demand from a broad base of local and international institutional investors, with subscription coverage reaching 15.2x of the initially offered shares, while total demand exceeded KWD 777 million. Trading of Trolley’s shares is scheduled to commence on 25 March 2026.
AlFalah further added that the offering comprised a secondary sale of approximately 35% of the Company’s issued shares. National Investments Company acted as the Exclusive Listing and Investment Advisor, Joint Global Coordinator, Joint Bookrunner, and Sole Subscription Agent, managing all stages of the transaction with high efficiency and professionalism, and in record time, from preparation and structuring through to the final closing of the offering.
The entire subscription process was executed through National Investments Company’s dedicated digital platform, including investor registration, receipt of orders, and the issuance of provisional and final allocation notices, thereby enhancing efficiency and transparency and providing a fully integrated investment experience.
AlFalah concluded by noting that despite the offering coinciding with the holy month of Ramadan, the transaction attracted strong participation from both institutional and retail investors, reflecting the robustness of the offering structure and the Company’s investment appeal.
Commenting on the event, Boursa Kuwait CEO Mr. Mohammad Saud Al-Osaimi said:
“The listing of Trolley on the “Premier” Market amid the current regional challenges stands as a testament to the strength of the capital market ecosystem and is a clear demonstration of the institutional resilience of Kuwait’s business environment. It also reflects the continued development of the Kuwaiti capital market and reinforces its role in supporting the national economy.”
“In collaboration with its partners in the capital market apparatus, Boursa Kuwait continues to develop the Kuwaiti capital market in line with the highest international standards and best practices, enhancing its regional and global competitiveness and increasing its attractiveness to quality investments. The exchange is committed to building a robust and sustainable market founded on the highest levels of transparency and governance, broadening the base of listed companies and supporting the economic growth of the State of Kuwait,” he added.