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KIPCO raises stake in OSN to 87.6%

KIPCO raises stake in OSN to 87.6%
The company is yet to provide further details on the deal
KPROJ
KPROJ
-0.81% 122.00 -1.00

Mubasher: Kuwait Projects Holding (KIPCO) has increased its stake in OSN to 87.6% from 60.5% through participation in capital calls and an arbitration decision.

The Boursa Kuwait-listed firm expects the transaction to reflect positively on its financial statements.  

Further details will be announced in due course, according to a bourse disclosure on Sunday.

Earlier this month, Standard and Poor's (S&P) maintained KIPCO’s long-term issue credit rating at ‘BBB-’ and the short-term issue credit rating at ‘A-3’.