Kuwait – Mubasher: Hits Telecom Holding said that a fully owned subsidiary has managed to sign an exclusive contract with one of the mobile operators in Jordan.

Establishing a Jordanian company that is fully owned by Hits will follow the signing of the contract, according to a bourse statement issued Sunday.

This expansion of Hits, which is listed on both KSE and DFM, will positively impact the company’s financial statements and operational activities as well as the subsidiary.

Revenues from the contract are expected to reach KWD 75 million ($247.41 million) in the coming five years, with an annual rate of KWD 15 million and an estimated profit of KWD 250,000 each year.