Mubasher: REAM Real Estate Co announced that it has raised its equity ownership in Al Mal Investment to 21.224% after executing a private transaction in an indirect way.
REAM Real Estate has purchased 58.2 million shares in Al Mal; this equity represents 18.758% of issued and paid-up capital, according to a bourse statement on Sunday.
The transaction was executed at 27 fils per share or a total value of KWD 1.57 million ($5.16 million).
Following this transaction, Ream Real Estate said that any investment in Al Mal will be classified as an investment in an associate.
