Mubasher: Al Arabiya Real Estate announced it had sold its entire stake in a local investment, Eskan Global.
The exit transaction was executed by selling 4.925 million shares at a value of about KWD 221,630, according to a bourse statement on Wednesday.
Al Arabiya clarified that a profit worth around KWD 221,630 will be realised from the exit deal and will be registered directly in the shareholders’ equity rights.
The financial impact will reflect on the income statements of the third quarter of 2018.
At the stock level, Al Arabiya closed Wednesday’s session 3.23% higher at 32 fils.
