Mubasher: Sanad Holding Co has signed a primary contract with Kuwait Finance House (KFH) to purchase its entire 20% stake in Gulf Investment House (GIH), Sanad disclosed on Wednesday.

In a separate statement, Sanad said that the purchased shares totalled 32.79 million, representing 19.967% of total issued shares.

The premium price of purchasing the shares is 23 fils.

It is noteworthy that GIH has a capital of KWD 16.42 million distributed on 164.2 million shares.