Mubasher: Arzan Financial Group for Financing and Investment announced that it has received the evaluation for assets that will be moved into the new company that will result from the expected split.

Assets were evaluated at around KWD 51.21 million ($169.2 million), the company said in a statement to Boursa Kuwait on Monday.

In February, the company’s board of directors approved the proposed split, which will divide the company into two spate companies.

Each shareholder in Arzan will be a shareholder in both companies after the split, the company noted.