Mubasher: Kuwait-based First Investment on Wednesday said it received the tax value from one of its subsidiaries in Saudi Arabia, while its stake in the unit reduced to SAR 3.36 million ($897,000), from SAR 22.76 million ($6.07 million).

A profit of KWD 500,000 ($1.66 million) will be approved, and this profit will appear in the financial results for the period that will end on 31 December 2017, according to a statement to Boursa Kuwait.

By 9:28 am Kuwait time, First Investment’s stock rose 0.98% to 41.40.