Oil & Gas Firm Action Energy Is Said to Eye Rare IPO in Kuwait

Action Energy Co. is planning an initial public offering in Kuwait, potentially setting up the first energy listing in the Gulf state since 2008, according to people familiar with the matter.

National Investments Co. and EFG Hermes are advising on the transaction that could come as early as this year, according to the people, who asked not to be named discussing private information. The firm could start initial investor meetings as soon as September, the people said.

No final decisions have been made on the listing. Representatives for Action Energy, NIC and EFG declined to comment.

Action Energy, founded in ...