Mubasher: IFA Hotels and Resorts announced that one of its subsidiaries was pledged a loan worth KWD 49.53 million ($163.1 million), according to a bourse statement on Sunday.
The subsidiary will use the granted loan in repaying part of its indebtedness.
IFA Hotels is a 43.22% subsidiary owned to International Financial Advisors (IFA), listed on both Boursa Kuwait and the Dubai Financial Market (DFM).
IFA Hotels has a capital standing at KWD 63.54 million distributed on 635.4 million shares at a par value of 100 fils each.
At the stock level, IFA Hotels closed Sunday’s session 0.63% lower at 63.1 fils in Boursa Kuwait.
