Wednesday, Sep 27, 2006
BEIRUT (Zawya Dow Jones)--Kuwait-based Al Deera Holding Co. has generated a revenue of $21.3 million from its investment in the U.S.-based technology firm Triton Distribution Systems, the Kuwait-based Al Rai Al Aam daily reported Wednesday.
Chairman of Al Deera, Abdulwahab Ahmad Al Nakib, told the newspaper that the company and its Kuwait-based unit Univest Consultancy Group bought a total of 3.73 million shares for $3 million in a private placement.
The share price rose to $6.5 Sept. 25 and so the two companies generated a net revenue of $21.3 million.
Al Deera acquired 3.45 million shares, while Univest, which is 49% owned by Al Deera, bought 287,500 shares.
Newspaper Web site: http://www.alraialaam.com
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; Beirut@zawya.com
(END) Dow Jones Newswires
09-27-06 0049ET
Copyright Zawya Dow Jones Newswires 2006
