Kuwait – Mubasher: Aayan Real Estate said that its subsidiary, Anan Real Estate Finance, received a resolution letter from the Capital Markets Authority (CMA) saying that the license has expired.
Thus, Anan will no longer be able to practice any real estate business, according to a bourse statement issued on Tuesday.
Anan is taking the procedures required to obtain the license one more time, subject to the regulations.
Aayan clarified that no financial impact will affect the company’s business.
On the stock level, Aayan retreated by 1.54% to 64 fils after about 133,500 shares were traded at a value of nearly KWD 8,550.
