Mubasher: Kuwaiti Finance House (KFH) on Monday announced that it sold its stake in Specialties Group Holding, representing 44.25 million shares or 29.5%, through an auction held on Thursday, 10 August.
The shares have been sold to National International Holding Company at a price of 160 fils per share and a total value of KWD 7.08 million, according to the bank’s statement to Boursa Kuwait.
KFH’s KWD 4 million gain from the transaction will be reflected in its financial results for the third quarter of 2017.
KFH’s stock, which closed Monday at 1.61% rise, was the most active in terms of traded volumes after 5.77 million shares were exchanged at a turnover of KWD 3.25 million. The stock closed at 567 fils, its highest level in six months.
