Mubasher: Ekttitab Holding and Al Salam Group Holding, which are listed on Boursa Kuwait and the Dubai Financial Market (DFM) disclosed that their subsidiaries have owned a controlling stake in Jiyad Holding Co.

Al Salam has announced that its subsidiary has purchased a stake of 20.56% in Jiyad through the rights issue executed to raise Jiyad’s capital, according to a bourse statement issued on Wednesday.

In a different statement, Ekttitab said that its subsidiary has owned a 13.43% stake in Jiyad through the rights issue, as well.

Al Salam and Ekttitab noted that this recent investment in Jiyad will be classified as an associate.

The two companies have not disclosed the two subsidiaries which acquired the stakes in Jiyad.