By: Ahmad Awad

Kuwait – Mubasher: The fair value of Alothman Commercial Enterprises Co’s stake in Humansoft Holding is estimated at KWD 3 per share, which is 60% higher from the market value of KWD 1.860 a share, sources told Mubasher.

The deal value stands at KWD 146 million ($478 million), as Alothman intends to buy 40% of its stake in Humansoft or 48.9 million shares, the sources added.

Alothman has appointed NBK Capital as a financial consultant for the sale deal which runs a number of private universities across Kuwait, Alothman announced on Thursday.

The company intends to shrink its share for the sake of expanding the investors’ baseline through increasing the stock trading percentage, which currently does not exceed 8% of the total 121 million shares, according to the sources who preferred to remain anonymous.

The sources told Mubasher that the sale deal aims to find a solution to the low liquidity and weak trading activity when compared to the results and large distributions the company makes.

Translated by: Ingy ElSafy