Mubasher: First Investment has signed a credit facilities contract with a local bank at a total value of KWD 3.265 million ($10.77 million). 

The company noted that the purpose of this loan is owning shares in Boursa Kuwait Securities Company, according to a bourse disclosure on Thursday. 

The financial impact of obtaining this loan will be registered in the income statements of the first quarter of 2019. 

As part of a consortium, First Investment has won an auction to purchase 44% of the shares in Boursa Kuwait Securities Company through 84.134 million shares at a total value of KWD 20 million or 237 fils per share.