Kuwait-Mubasher: Kuwait Telecommunication (Viva) stock plunged 9.1% to reach KWD 1 in early trades of Monday as compared to KWD 1.100 by the end of Sunday’s trading session.
This decline in the stock performance followed the announcement made by Saudi Telecom (STC) about Viva’s trading price at KWD 1.
Viva saw sale transactions on 5 million shares out of total 6 million sale/buy shares.
Meanwhile, no purchase orders were witnessed, while sale offers stood at 9 million shares.
It is noteworthy that STC got the approval from Kuwait’s Capital Markets Authority to voluntarily acquire Viva’s shares.
