Mubasher: Kuwait Financial Centre (Markaz) clarified that MHI Holding is no longer a subsidiary of Markaz.

This decision was effective starting from 2 January 2018, according to a bourse filing issued on Monday.

New investors have joined MHI Holding’s equity; the capital structuring of Markaz was amended accordingly.

Markaz clarified that this disclosure is a follow-up to the previous statement which said that MHI Holding purchased 53.17 million shares in Heavy Engineering Industries and Shipbuilding (HEISCO) or 29.5% of issued and paid-up capital.