Mubasher: Qurain Petrochemical Industries has completed purchasing the entire shares of National Petroleum Services (Napesco), according to a bourse statement issued on Sunday.
In mid-March, Qurain has announced that the period set for accumulating shares has ended with none of Napesco’s shareholders accepting the takeover offer.
Napesco’s current stock price at Boursa Kuwait stands at KWD 1.200, while Qurain has offered purchasing Napesco’s shares for 800 fils, which is 400 fils less than the current stock price.
At the stock level, Napesco ended Sunday’s session 3.45% higher at KWD 1.2, while Qurain closed the session at 340 fils.
