Mubasher: Noor Financial Investment on Sunday announced that it has signed a KWD 16 million ($52.8 million) credit facility, which it will get from the mother company, National Industries Group Holding (NIND).
The loan will be repaid on two years and allocated to covering Noor's obligations, the firm said in a filing to Boursa Kuwait.
The Kuwait-based company noted that the loan will positively affect its liquidity.
On Thursday, the company asked the bourse to stop trading its stocks until it announces a financial settlement.
Trading on Noor’s shares will resume on Monday, 31 December 2018.
For the first nine months of 2018, Noor Investment posted profits worth KWD 8.56 million, up 87% compared to KWD 4.58 million in the same period of the prior year, whereas for Q3-18, it logged KWD 1.92 million in profits, a 32.4% decline year-on-year from KWD 2.84 million.
