Kuwait – Mubasher: Kuwait Foundry achieved KWD 5.71 million ($18.64 million) profits from the selling offer of Americana's shares.

The achieved sums from the selling offer from Adeptio LLC will appear on the company's profits of the first quarter of 2017, according to a bourse filing on Monday.

The sale resulted in the transfer of KWD 5.57 million from the change in fair value reserve to the income statement, in addition to KWD 137,500.

The company turned profitable in 2016, posting losses of KWD 1.33 million against KWD 2.31 million in 2015.