Mubasher: Amwal International Investment on Sunday said that it has received SHUAA Capital’s offer to buy 100%, or at least 75%, stake in the Kuwait-listed company.

Amwal and SHUAA, the Dubai-based financial services provider, are in talks to reach a preliminary agreement on the takeover, according to Amwal’s statement on Boursa Kuwait.

In July 2017, SHUAA had acquired 8% or 14.49 million shares of Amawal.

Amwal’s capital amounts to KWD 18.05 million divided on 180.55 million shares with a par value of 100 fils per share.

SHUAA Capital, which is listed on the Dubai Financial Market (DFM), has been seeking to expand its capital markets platform through recent acquisition and increasing its offerings to clients.