Kuwait-Mubasher: Al Imtiaz Investment Group said it has increased its stake in an associate in the Sultanate of Oman to 57.48% from 44%, according to a bourse statement issued on Sunday.
The Kuwaiti company said that the Omani company has become a subsidiary after the stake increase.
Al Imtiaz added that it has completed the procedures required for exiting an asset listed on Muscat Securities Market, with a profit estimated to be around KWD 470,760 ($1.56 million) which will be registered in Q1-16 financials.
Al Imtiaz stock settled at 75 fils after an hour after Sunday’s trading session started, as 555,500 shares were traded with a value of about KWD 41,700.
