Kuwait Noor Financial’s board approves merger with subsidiary
Traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.
REUTERS/Stephanie McGeheeKuwait - Noor Financial Investment’s board has announced its primary approval of a proposal for the merger with its subsidiary Noor Telecommunication Company, according to a bourse statement released on Tuesday.
The primary approval was on conditions including that the merger would not result on delisting Noor Financial Investment from Boursa Kuwait and that companies adhere to applicable regulations.
It is worth mentioning that the financial statements of Noor Financial Investment showed a 12% year-on-year decline in profit during the third quarter of 2019.
Source: Mubasher
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