Tuesday, May 15, 2012
BEIRUT (Zawya Dow Jones)--Kuwait's Osoul Investment Co. (OSOUL.KW) intends to set up an open-ended investment fund with a variable capital, Kuwait-based Al Qabas daily reports Tuesday citing an executive.
The fund will invest in securities listed on the Kuwaiti bourse, Suleiman Al Ameeri, the company's chairman and managing director, said according to the paper, adding it would be launched after Osoul gets the approval of the Capital Markets Authority.
The daily also cites Ameeri as saying that Osoul has been able to reduce its debt and financial obligations by 33% bringing its debt to shareholders' equity ratio to 20%.
Newspaper website: http://www.alqabas.com.kw/node/74878
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
15-05-12 0453GMT
