|21 November, 2019

Al Kharafi buys stake in Gulf Cable

Al Kharafi holds 99% of Al Khair Global

Traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.

Traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.

REUTERS/Stephanie McGehee

Mubasher: Chairman of Gulf Cable and Electrical Industries Badr Nasser Al Kharafi has bought 60.12 million of the company’s shares.

The total amount of the deal stood at KWD 32.94 million ($108.52 million), according to a bourse statement released on Thursday.

Yesterday, Al Khair National for Stocks and Real Estate Company accepted an offer from Al Khair Global for Buying and Selling Shares to buy 58.028 million shares in Gulf Cable.

It is worth mentioning that Al Kharafi holds 99% of Al Khair Global for Buying and Selling Shares.

Source: Mubasher

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