Kuwait-Mubasher: Boubyan Petrochemical said it has submitted a voluntary offer to take over the entire stake in its healthcare and education unit Nafais Holding, according to a bourse statement.
Boubyan clarified that it submitted a proposal offer to Kuwait’s Capital Markets Authority to acquire the remaining 83.09% stake in Nafais.
Currently, the petrochemical company owns 16.88% of Nafais which has KWD 42.12 million-capital.
The 83.09% stake that Boubyan intends to buy has a market value of KWD 35 million.
Nafais stock grew 10% or 10 fils to settle at 110 fils by the end of Tuesday’s trading session.
