Mubasher: Al Imtiaz Investment Group announced that a 68.05%-owned subsidiary has subscribed a total of $4.1 million in a foreign group investment fund.
The fund is established in Cayman Islands and authorised from the Capital Markets Authority (CMA) to be promoted inside Kuwait, according to a bourse disclosure on Monday.
Al Imtiaz expects annual cash return of 9% to be distributed on a monthly basis, while the internal return is projected reach 11.5% when exiting this investment in four years with a possibility of a two-year renewal.
At the stock level, Al Imtiaz closed Monday’s session 0.77% higher at 131 fils.
