Kuwait Projects Co, the country's biggest investment company by assets, said it was in talks with an "outside party" to establish a strategic partnership in the insurance sector.
"The strategic partnership aims at developing the firm's business in the insurance sector and the talks could lead the strategic partner to acquire a percentage from KIPCO's stake in Gulf Insurance Co," Kuwaiti bourse website on Sunday.
KIPCO owns a 70 percent stake in Gulf Insurance, according to bourse data.
Separately, KIPCO's Vice Chairman Faisal al-Ayyar told Kuwaiti daily newspaper al-Qabas in an interview published on Sunday that the firm's commercial banking arm, Burgan Bank is eyeing at least $300 million from a bond issue.
"I expect the interest rate to be lower than the rate of the last bonds issued by KIPCO which some consider it to be high at the 9 percent level," Ayyar said.
KIPCO, the country's biggest investment firm, launched a $500 million bond issue in July with a 10-year tenor and a yield of 9.5 percent, and was oversubscribed by almost four times.
In June, Burgan's Chairman Majed Eisa al-Ajeel said the lender would issue bonds worth up to 140 million dinars ($487.6 million), and may sell some of the issue to foreign investors, with the priority for the local market.
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