Mubasher: Boursa Kuwait announced that an auction will be held on Wednesday to offer 21.7% of Al Kout Industrial Projects’ capital for sale.

Al Kout will offer 21.9 million of its shares for sale at a premium price of 710 fils each, with a total value of KWD 15.55 million ($52 million), according to a bourse statement on Wednesday.

Boursa Kuwait clarified that an agreement was made between KFH Capital Investment Company representing the selling entity and KAMCO Investment representing Qurain Petrochemical Industries as a purchaser.

It is worth noting that Al Kout has a capital of KWD 10.09 million distributed on 100.9 million shares.

Boubyan Petrochemical owns the largest stake of 24.8% in Al Kout.