Mubasher: Abdullah Mohammed al Humaidi announced that he is committed to put forward an obligatory proposal to purchase all of Ream Real Estate Co’s shares by 1 March 2020 at most.

The confirmation came in al Humaidi’s statement to Boursa Kuwait.

General Authority of Palace Affairs owns the biggest stake in Ream’s capital, at 39.23%, while Integrated Financial Services owns 29.2%, followed by Hussa Tahos Shadid Rashed’s 14% stake.

It is worth noting that Ream’s stocks were suspended as from 1 December, until the company’s third-quarter earnings results are released.