Kuwaiti aircraft leasing company Alafco has hired Deutsche Bank to study the potential sale of global depositary receipts (GDRs) in London, market sources indicate.
Details about the timing and the amount of the GDR sale were unavailable.
The lessor has 125 aircraft on order with Boeing and Airbus, including 85 Airbus A320neos, 12 A350s, 20 Boeing 737 Max and eight 787-8 units.
In January, the lessor appointed executive vice-president Abulqasim Redha as its new acting chief executive, after Ahmad Alzabin stepped down from the post.
Alzabin was forced to relinquish the role due to new Kuwaiti regulations prohibiting the posts of chief executive and chairman to be held by the same person. He retains his role as chairman of the Kuwaiti leasing firm.
The board reshuffle came after Alafco posted a 26% decline in net profit for the first quarter to Kuwaiti dinar (KD) 11 million ($39 million) compared with the year-earlier period.