Mubasher: United Real Estate said that a subsidiary has purchased 39.17% of Insha'a Holding, which is a subsidiary of Aayan Leasing and Investment, according to a bourse statement issued on Monday.
United Real Estate said that the subsidiary, United Building Co, has purchased the stake for KWD 5.38 million.
The company noted that this deal will generate an increase in assets and liabilities, as well as listing Insha'a Holding as an associate.
The listing of United Real Estate’s share in Inshaa’s financial statements will start in fiscal year 2017/2018.
At the stock level, United Real Estate gained 2.15% to reach 95 fils at Monday’s close.
