Mubasher: Inovest, a Bahrain-listed investment firm, announced on Wednesday that it sold its entire 60% stake Tala Island project to Ossis Property Developers Company for BHD 2.9 million ($7.7 million).
The company’s CEO Murad Al Ramadan expected the deal’s financial impact to appear in the first quarter of 2016.
The company earlier posted $53.7 million in losses for FY15, compared to $3.8 million by the end of 2014.
