Kuwait's Pearl sells stake in Al Bareeq Holding

Pearl sold a total of 108.5mln shares

  

Pearl sold a total of 108.5mln shares

Mubasher:Al Bareeq Holding on Monday said that Bader Ahmed Bader Al Refai’s Pearl Co. for Shares Selling and Buying sold its stake to the former.

Pearl sold a total of 108.5 million shares in Al Bareeq, according to a Monday disclosure to Boursa Kuwait.

The sold shares are part of the controlling shareholder Asaad Abdel Aziz Al Sanad, whose stake is distributed over four companies, including Pearl.

It is worth noting that Al Sanad, who holds 98.77% of Al Bareeq, said last week he plans to trim his stake to less than 30%.

Al Bareeq’s issued and paid-in capital amounts to KWD 43.73 million, distributed over 437.3 million shares, with nominal value of 100 fils per share.

Source: Mubasher

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