The private placement received excellent interest from institutional and individual qualified investors exceeding the targeted number of shareholders and placement amount.

The issue targeted an offering of up to 60 million shares JTC shares at the price of 450 fils per share (total value of up to KWD27mn) to qualified investors in order to increase the shareholder base as one of the prerequisites for listing on Boursa Kuwait. The subscription period commenced on 16^th of June and ended on 8^th of July 2021.

Since its establishment in 2007, Planet Pharmacies has experienced exponential growth with its operations expanding outside the UAE to reach Saudi Arabia and Oman. The company embarked on implementing its successful expansion strategy through acquiring a large retail chain of pharmacies, setting up new pharmacies across different cities, in addition to introducing the wholesale distribution rights of new agencies from regional and international pharmaceutical manufacturers.