Mubasher: Arkan Al Kuwait Real Estate said that Kuwait Pillars for Financial Investment Co, an independent investment advisor licensed by the Capital Markets Authority (CMA), evaluated the share price under its mandatory acquisition offer by Al Khair Global for Buying and Selling Shares at 85.8 fils.
In this respect, the real estate company affirms that the offered share price is close to the one offered by Al Khair Global at 82.4 fils, noting that this recommendation is by no means binding to shareholders, according to a stock exchange statement on Wednesday.
In December, Al Khair Global shifted its business in Arkan Al Kuwait into acquisition, expanding its stake to 35.876% from 29.58% and raising the number of its shares in the company to 90.105 million shares from 74.299 million.
It further revealed its commitment to put forward a mandatory acquisition offer for the remaining shares of Arkan Al Kuwait, representing a total of 64.122%.
