Kuwait – Mubasher: The Securities House has settled its debts through transferring 2.5% stake of the subsidiary Gatehouse Financial Group, according to a statement issued on Sunday.
Thus, Securities Group’s equity ownership in Gatehouse decreased to 28.3%, following the debts settlement process.
The financial impact from this settlement is a net profit of about KWD 800,000 that will be registered in the company’s Q3 financial statements, the company added.
Securities stock retreated by 9% to reach 50 fils by 11:17am Kuwait time on Sunday, after 2 million shares were traded at a value of about KWD 100,800.
