|31 March, 2020

Kuwait's Kamco exits $17mln investments

The partial exit is from investments in companies out of Kuwait

Investor watches computer screen on trading floor of Kuwait Stock Exchange

Investor watches computer screen on trading floor of Kuwait Stock Exchange

REUTERS/Stephanie McGeHee

Kuwait - Kamco Invest on Tuesday announced selling around 16.8% of its stake in a number of special-purpose companies (SPCs) for $16.9 million (KWD 5.2 million).

The partial exit is from investments in companies out of Kuwait, according to a bourse statement.

The transaction’s material impact on Kamco's financial position will be provided in due course.

It is worth pinpointing that during 2019, Kamco achieved a net profit of KWD 3.03 million, compared to KWD 2.5 million in 2018, posting an 18.57% annual increase.

Source: Mubasher

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