Kuwait – Mubasher: National Investments Co. on Monday announced divesting its stake in a holding company that operates in the education and healthcare sector.
The KWD 3 million divestiture will result in a profit of KWD 1.22 million that will be registered in the company’s financial statements for the first quarter of 2017, the company said in a filing to Boursa Kuwait.
The Kuwait-listed company has investments in more than 20 companies.
It has also been recently working on collecting shares of Kuwait Food – Americana. By the end of last week, the investment company acquired 40% of Americana’s shares as part of a mandatory tender offer.
Its wholly-owned subsidiaries are Sapphire International Holding and National Investment Co – Lebanon, while it owns 99.00% in Gulf Investment EC, National Gate for Computer Systems, International Infrastructure Holdings and Al Bawwaba National General Trading and Contracting Co., alongside 15 other companies.
National Investments’ stock ended Monday’s session in the green, rising 1.5% to 138 fils, after 2.71 million shares were traded at a turnover of KWD 373,500.
