Boursa Kuwait hosts Kuwait Food Com­pany deal

An es­ti­mate deal of KD 700 mil­lion

Kuwait Times - - BUSINESS -

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

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