Mubasher: Sanad Holding Co’s board of directors has approved to exit from its wholly-owned subsidiary, Al Rai Commercial Complex Co.
following the selling of Sanad's full owned shares in Al Rai, the parent company has achieved profits at a value of about KWD 72,350, according to a statement to Boursa Kuwait on Sunday.
After the transaction is completed, the financial impact will appear in Sanad's fiscal position during the second quarter of 2019.
It is noteworthy that Sanad Holding's profits tumbled 50.2% to around KWD 553,300 in 2018, from nearly KWD 1.11 million during 2017.
