Qatar’s Barwa Real Estate is looking to sell its stake in Al Imtiaz Investment Group Company, a public joint stock firm registered in Kuwait, according to a disclosure on Monday.
More than 276.6 million shares, representing 24.4 percent of Al Imtiaz’s issued shares will be sold, the property firm told the Qatar Stock Exchange.
The Qatar-listed company also sent a similar disclosure to the Capital Markets Authority and the stock exchange in Kuwait regarding the planned sale.
Barwa is 45 percent owned by Qatari Diar, the real estate arm of the GCC state’s sovereign wealth fund, the Qatar Investment Authority.
Its net profit for the third quarter of 2021 reached 735.8 million riyals ($202 million), up from 723.5 million riyals a year earlier.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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