Boursa Kuwait hosts Kuwait Food Company deal

An estimate deal of KD 700 million

Boursa Kuwait yesterday announced that it hosted and witnessed the closing of the Kuwait Food Company deal, which was held on Thursday, 20 October, 2016, where 268,496,544 shares of the company were sold. This value represents (66.790 percent) of the company’s capital, at the price of (KD 2.650) and a total value of KD 711,515,841.600). Details of parties who participated in the deal are as follows:

* National Investments Company - Client Account in favor of Al-Khair National for Stocks and Real Estate (58.141 percent) - Seller- Al-Khair National for Stocks and Real Estate (8.649 percent) Seller -National Investment Company - Client Account, in favor of Adeptio AD Investments - Buyer Commenting on this deal, Khaled Abdulrazzaq Al-Khaled, Boursa Kuwait Vice Chairman and CEO, said: “This deal is testament to the great trust the participating parties have in Boursa Kuwait and their faith in Boursa Kuwait’s plan to create a restructured robust, transparent and accessible market”.

He added: “We are pleased to have hosted and witnessed the closing of this deal after Boursa Kuwait’s formal license acquisition, which reflects the promising outlook of the participating parties in the Kuwait economy and strengthens the faith of investors in Kuwaiti companies. Boursa Kuwait is sparing no efforts to develop its working environment and to raise the standards of the services it offers to its clients”. For more information on Boursa Kuwait, please visit www.boursakuwait.com