Mubasher: Sanad Holding Co has decreased its equity ownership, within Asaad Abdulaziz Al Sanad Group, in Inovest, a Bahraini company listed on both Boursa Kuwait and Bahrain Bourse (BHB).

Sanad has narrowed its stake in Inovest to less than 5% from 24.41%, according to a recent bourse statement.

The decrease was executed until Sanad has the opportunity to submit the samples showing the equity ownership in Inovest in line with the required approvals.

Inovest has a capital standing at $114.61 million distributed on 286.51 million shares at a par value of $0.4 per share.

At the stock level, Inovest closed Tuesday’s session 4.1% lower.