Kuwait-Mubasher: Al Deera Holding has signed a primary agreement for refinancing a consolidated loan worth KWD 17.1 million ($56.7 million), a statement on Wednesday said.

The consolidated loan will be fully repaid in Q2 or Q3 of the fiscal year 2016, Al Deera clarified, noting that a profit worth KWD 12.02 million ($39.88 million) will result from the refinance.

Al Deera stock rose by 6.41% to 41.5 fils, half an hour before closing Wednesday’s session, as about 595,000 shares with a value of around KWD 24,100.