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KFH sells stake in Specialties for KWD 7m

KFH sells stake in Specialties for KWD 7m
The shares have been sold to National International Holding Company at a price of 160 fils per share
SPEC
SPEC`R
-0.59% 168.00 -1.00
NIH
NIH`R
3.52% 147.00 5.00

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.