Kuwait – Mubasher: Al Arabiya Real Estate has sold its entire stake in Gazal Logistics and Warehousing Co, according to a bourse statement issued on Sunday.
The company’s stake includes 16.5 million shares at a value of about KWD 577,500.
A profit of the same value of the exit deal is expected to be realised and registered in the second half of fiscal year 2017, the statement added.
At the stock level, Al Arabiya closed Sunday’s session 2.90% lower at 33.5 fils.
