Mubasher: National International Holding (NIH) has increased its stake in a German company by 2.5% to 11.66% from 9.18%.

The increase in the German company was executed through a 100%-owned subsidiary, according to a bourse statement on Thursday.

NIH, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), has purchased 1.24 million shares in the German firm, which is specialised in making wood cutting machines, at a total value of KWD 700,000 ($2.32 million).

The impact of increasing this stake will be a growth in NIH’s financial assets at fair value to KWD 16.42 million from KWD 15.72 mllion.