Mubasher: The Commercial Real Estate Company (Al Tijaria) is planning to buy 1 million shares of Kuwait Resorts (Muntazahat).
Al Tijaria owns 33.1% of Muntazahat shares, Al Tijaria announced in a bourse filing on Thursday.
Muntazahat’s capital amounts to KWD 19.65 million, spread across 196.5 million shares at a nominal value of 100 fils.
At 12:21 pm Kuwait time, Al Tijaria’s stock rose 3.41% on Boursa Kuwait after trading 5 million shares, worth KWD 451,130.
Earlier at 11:38 am, the stock surged 4.55% to 92 fils, winning 4 fils – its highest level in 30 months.
The company’s profits increased 99% to KWD 3.88 million in the second quarter of 2017 versus KWD 1.95 million in the year ago period.
