Mubasher: Oula Fuel Marketing announced it has established Ultra Logistics as a new company.
The capital of the new firm stands at KWD 1 million distributed on five shareholders, according to a bourse disclosure on Sunday.
An equity ownership of 99.4% was distributed for Oula Fuel, while the remaining equity that is equal to KWD 40,000 was distributed on members.
The business of Ulta Logistics focuses on transportation activities, as well as distributing fuel to private and public fuel stations.
At the stock level, Oula Fuel closed Sunday’s session 2.50% lower at 117 fils.
