Mubasher: Boursa Kuwait resumed trading on the stocks of Qurain Petrochemical Industries and The National Petroleum Services Company (NAPESCO) after denying news about acquisition from US entity on NAPESCO.

By 8:45 am Kuwait time, the bourse suspended trading activities on the stocks after local newspaper reported that US firm took over NAPESCO at a value of $1 billion.

Qurain Petrochemical noted that it did not receive any acquisition offers.

The Kuwaiti petrochemical firm owns 50.53% stake in NAPESCO.