22 October 2016
An estimate deal of KWD 700 million

Kuwait - Boursa Kuwait today announced that it hosted and witnessed the closing of the Kuwait Food Company deal, which was held on Thursday, 20 October, 2016, where 268,496,544 shares of the company were sold. This value represents (66.790%) of the company’s capital, at the price of (KWD 2.650) and a total value of KWD 711,515,841.600). Details of parties who participated in the deal are as follows:

·         National Investments Company                                                 – Client Account 
In favour of / Al Khair National for Stocks and Real Estate (%58.141) - Seller
·         Al Khair National for Stocks and Real Estate (%8.649)                            - Seller  
·         National Investment Company                                                   – Client Account 
In favor of/ Adeptio AD Investments                                                          - Buyer        

Commenting on this deal, Mr. Khaled Abdulrazzaq AlKhaled, Boursa Kuwait Vice Chairman and CEO, said: “This deal is testament to the great trust the participating parties have in Boursa Kuwait and their faith in Boursa Kuwait’s plan to create a restructured robust, transparent and accessible market”.

He added: “We are pleased to have hosted and witnessed the closing of this deal after Boursa Kuwait’s formal license acquisition, which reflects the promising outlook of the participating parties in the Kuwait economy and strengthens the faith of investors in Kuwaiti companies. Boursa Kuwait is sparing no efforts to develop its working environment and to raise the standards of the services it offers to its clients”.

For more information on Boursa Kuwait, please visit www.boursakuwait.com  

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© Press Release 2016