Mubasher: Al Ahli Bank of Kuwait (ABK) has sold 11.125 million unlisted shares that represent 5.56% of the Kuwait Clearing Co’s equity for a value of KWD 4.2 million.
This sale transaction will generate a profit worth about KWD 3.4 million, ABK said in a statement on Thursday.
ABK noted that the deal’s value will be listed under the segment of provisions, and it will not raise the bank’s net profit.
At the stock level, ABK closed Thursday’s session 2.74% higher at 300 fils.
