Kuwait – Mubasher: Kuwait's Capital Markets Authority (CMA) agreed on the obligatory acquisition offer of Qurain Petrochemical Industries to the rest of National Petroleum Services' traded shares.
Qurain said on Wednesday that the remained shares amount to 26.82 million shares at a value of 800 fils per share, according to a bourse filing.
The sellers in this deal are the portfolios’ clients of KAMCO Investment, the company added.
In January, Qurain announced that its stake in Napesco reached 50.53% and it is committed to offer an obligatory acquisition to the rest of Napesco's traded shares, which represent 49.47%.
