Kuwait-Mubasher: Boubyan Petrochemical said on Wednesday that its voluntary acquisition of the remaining shares of Nafais Holding has received approval from the Kuwaiti Capital Markets Authority (CMA) on Tuesday.
Boubyan noted that the remaining stake stands at 83.09%, with a value of 142 fils per share, according to a bourse statement.
It added that the acquisition proposal is subject to the shareholders who own more than 143.63 million shares of Nafais.
Boubyan said that it has mandated National Investments Company as a director for the acquisition.
The market value of the remaining stake pursued by Nafais is KWD 49.7 million.
Boubyan stock settled at 445 fils at 10:15 am Kuwait time during Wednesday’s trading session, while Nafais stock which settled at 136 fils.
