Kuwait - The board of Boubyan Petrochemical Company rejected the offer proposed to sell its entire 21.12% stake in Nafais Holding Company for KWD 21 million or KWD 1 per share.

During its meeting on Monday, the board reemphasised its interest in increasing the firm’s stake in Nafais Holding at the price it sees suitable, according to a bourse filing on Monday.

Boubyan Petrochemical noted the decision will not have any material impact on the company’s financial position.

It is worth noting that Nafais Holding delisted from Boursa Kuwait in February 2018.

On 16 October, Boubyan Petrochemical said that its board will hold a meeting to consider the proposed offer.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.