Mubasher: Sokouk Holding Company and Munshaat Real Estate Projects on Wednesday negated social media reports regarding a merger between the two companies.

Sokouk and Munshaat affirmed in separate disclosures to Boursa Kuwait that the news about their consolidation is totally false.

The capital of Sokouk reaches KWD 59.32 million, with 48.8% owned by Aref Investment Group.

Kuwait Finance House (KFH) and its subsidiaries, including Aref Investment Group, Sokouk Holding and Al-Muthanna Islamic Index Fund, own about 53.12% of Munshaat’s capital which stands at KWD 32.2 million.