Kuwait-Mubasher: Ahli United Bank – Kuwait (ALMUTAHED) said it has purchased 30% stake in Middle East Financial Investment (MEFIC) from its parent company Kuwait and Middle East Financial Investment (KMEFIC), according to a bourse filing.

Saudi Arabia-based MEFIC is an unlisted closed company that operates in Saudi Arabia, and its Kuwaiti parent company KMEFIC is 50.18%-owned by the bank.

ALMUTAHED stock dropped 1.11% to settle at 445 fils during Thursday’s mid-session, after 51 shares were traded through one transaction valued at KWD 23.