Mubasher: First Investment Company inked a deal with a local company to sell a number of shares in one of its investments in Saudi Arabia.
The transaction’s total cost amounted to KWD 3.30 million ($10.88 million), according to a filing to Boursa Kuwait on Thursday.
The company’s total assets are expected to witness a drop upon the sale deal.
Additionally, First Investment expects a KWD 3.30 million rise in its cash flows, along with a KWD 785,350 growth in the reserve of the fair value (FV).
It is worth noting that First Investment posted a profit of KWD 1.56 million during the first quarter of 2019.
