Mubasher: Specialities Group Holding has signed an agreement with Kuwaiti for Oil Fields Processing Co to exit its entire stake in Equipment Holding, according to a bourse statement issued on Wednesday.

Specialities owns a total of 40.85 million shares in Equipment, with a value of 55 fils per share.

Selling Specialities’ 29.75% stake in Equipment to Kuwaiti for Oil Fields will be executed in a public auction through Boursa Kuwait, the statement noted.

No profit or loss will be registered in Specialities’ financial statements as long as the sale is for 55 fils a share.

At the stock level, Specialities ended Wednesday’s session 4.40% lower at 87 fils, while Equipment gained 1.7% to close at 60 fils.