Kuwait – Mubasher: Kuwait Stock Exchange (KSE) announced the completion of Al Qurain Petrochemical Industries’ compulsory acquisition of a stake in National Petroleum Services (Napesco).
Al Qurain will purchase a stake of 2.722 million shares representing 4.725% of Napesco’s capital, the company said in a bourse statement.
The acquisition price stands at 730 fils per share, with an overall value estimated at KWD 1.987 million. The deal procedures will be completed on 12 October.
On the stock level, Al Qurain ended Wednesday’s session at 196 fils after nearly 84,800 shares were traded at a value of about KWD 16,620.
Napesco stock reached 780 fils, after one transaction was executed through 1,888 shares at a value of about KWD 1,470.
