KFH plans to sell another 30% of its stake in KCB
KUWAIT CITY: Kuwait Stock Exchange (KSE) announced that the Gulf Finance House has clarified about a report published in local newspapers about it selling 30 percent share in the Khaleej Commercial Bank. According to the bank, it completed the sale of 30 % share recently and it is in the process of selling another 30% share to Kuwaiti and Saudi investors. The total value of the sale is BD 56 million. Founded in 1999, Gulf Finance House has grown rapidly to become one of the most respected investment banks in the Middle East region in terms of quality and innovation of its product offerings. Over an eight-year period, Gulf Finance House has successfully launched economic infrastructure development projects and investments with an aggregate end value exceeding US $10 billion and received numerous awards for its innovative approach to Islamic banking and finance. Its shares are actively traded on the London Stock Exchange (GDR), the Kuwait Stock Exchange (KSE), the Bahrain Stock Exchange and the Dubai Financial Market. Over a three-year period, which ended on 31 December 2006, the company's net income tripled to $211.6 million.
Kuwait stock exchange (KSE) announces that Aref Energy Holding Company sold its assets worth KD 7,500,000 and gained a profit of KD 1,500,000. Aref Energy Holding Company (previously) known as Excellent Education Co KSCC) is a Kuwaiti-based company established on Oct 10, 1996 and listed to the KSE on May 23, 2005. It is engaged in establishing, incorporating and acquiring non-governmental institutions, schools, technical training centers and special-needs schools, as well as organizing conferences, symposiums, seminars and performing scientific research. The company is also engaged in a range of other educational and extra curricular activities. It has a subsidiary, Mad Science Company, and has two associates Afaq Educational Services Company and Educational Group Holding. Aref is headquartered in Hawally.
Kuwait Stock Exchange (KSE) announces that the Central Bank of Kuwait (CBK) approved Kuwait and the Middle East Financial Investment Company's (KMEFIC) request to buy back 10 percent of its shares issued six months prior to the expiration date, provided the company will adhere to CBK's rules and conditions and the provisions of Article 115.
Kuwait and Middle East Financial Investment Company (KMEFIC), a leading asset management and financial services company, was established in January 1984 by the Bank of Kuwait and the Middle East (BKME) and the Public Institute for Social Security (PISS).In 1987, BKME took full ownership of KMEFIC before it got listed on the Kuwait Stock Exchange in July 1997. Currently, Ahli United Bank (AUB) of Bahrain owns 11 percent stake in KMEFIC while BKME maintains a 48 percent interest.
Kuwait Stock Exchange (KSE) announces that the Central Bank of Kuwait (CBK) approved on Sept 27, 2007 Coast Investment and Development Company's request to buy back 10 percent of its issued shares for a period of six months starting from Sept 28, 2007 on the condition that it will adhere to CBK's rules and conditions and provisions of Article 115.
Coast is one of the leading financial institutions in Kuwait and the region. It was established in 1975 and was listed on the KSE in 1989. Its current paid-up capital is KD 52 million ($180 million). The company is engaged in a variety of investment management activities such as private equity, asset management and real estate investments both locally and internationally. Coast is also an active player in the local, GCC and international markets offering a wide array of investment services including portfolio and fund management, advisory services, corporate finance and investment banking services.
Kuwait Stock Exchange (KSE) announces that the Mushrif Trading and Contracting Company has signed a contract with the Aldar Real Estate Company in the Emirate of Abu Dhabi to execute a building project consisting of 302 shops.
The company reported that the value of the project amounts to AED 212,900,000 or approximately KD 17,700,000 and the work includes civil and mechanical jobs and putting finishing touches to these shops spread on three floors over a 27,282 square meter area. The duration of the project is 18 months.
Established in 1968, Mushrif is now one of the leading and fastest growing construction companies in the Gulf region. Based in Kuwait and having more than 39 years of experience as a heavy civil building and infrastructure contractor and employing 3000 employees, Mushrif has made its mark in a number of important projects in the Gulf Region in the fields of water/wastewater treatment, oil and gas, pipelines and pump stations, roads and highways, airports and runways, building and infrastructure works, environmental and other industrial projects.
Kuwait Stock Exchange (KSE) announces that the Gulf Glass Manufacturing Company has signed an agreement with a south African company to supply glass bottles worth $715,900 or the equivalent of KD 201,883.
Gulf Glass Manufacturing Co is a Kuwait-based company established on Dec 27, 1981 and listed on the Kuwait Stock Exchange on June 28, 1998. It is engaged in the manufacture, import, export and distribution of glass bottles and other household glassware. The company's plant is located in Mina Abdulla Industrial Area.
© Arab Times 2007
