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Sanad to buy KFH’s 20% stake in GIH

Sanad to buy KFH’s 20% stake in GIH
The purchased shares totalled 32.79 million
BAREEQ
BAREEQ
0.00% 30.60 0.00
KFH
KFH
-0.37% 800.00 -3.00
GIH
GIH
1.60% 380.00 6.00

Mubasher: Sanad Holding Co has signed a primary contract with Kuwait Finance House (KFH) to purchase its entire 20% stake in Gulf Investment House (GIH), Sanad disclosed on Wednesday.

In a separate statement, Sanad said that the purchased shares totalled 32.79 million, representing 19.967% of total issued shares.

The premium price of purchasing the shares is 23 fils.

It is noteworthy that GIH has a capital of KWD 16.42 million distributed on 164.2 million shares.