Kuwait – Mubasher: Al Imtiaz Investment Group said that its subsidiary Al Ritaj Investment has become associate company.
A bourse statement issued on Tuesday clarified that a subsidiary of Al Imtiaz has resigned from the board of Al Ritaj; thus, Al Imtiaz has lost its control over Al Ritaj.
Al IMtiaz will still have an unchanged ownership percentage of 49.81% in Al Ritaj, the company said, noting that the share of Al Imtiaz in Al Ritaj Holding will decrease to 56.97% from 92.47%.
