Mubasher: Al Bareeq Holding has exited from its subsidiary, Tadawul Global for Purchase and Sale of Shares and Bonds Co, realising KWD 498,500 worth of profits.
The holding firm sold all of its shares in the subsidiary to a third party at a value of KWD 11.05 million, according to a stock exchange filing on Tuesday.
The realised earnings will reflect on the income statement of Al Bareeq as of 31 March 2020.
It is worth noting that in the first nine months of 2019, Al Bareeq achieved a 472.1% surge in profits to KWD 1.19 million, from about KWD 208,690 in the same period a year earlier.
