Abu Dhabi – Mubasher: Eshraq Investments announced that its subsidiary, Goldilocks Investment Company, has acquired a 51% stake in NCM Investment - Kuwait from AMWAL International Investment Company.
Subject to regulatory approvals, the transaction is expected to conclude in the last quarter of 2022, according to a bourse filing on Wednesday.
NCM Investment is a forex, commodity, and index trading company.
In August 2022, Eshraq Investments acquired a 99.25% stake in Goldilocks’ shares, issuing 1.38 billion shares at a nominal value of AED 1 per share.
It is worth noting that in the first half (H1) of 2022, Eshraq Investments registered consolidated net profits worth AED 7.28 million, an annual plunge of 59% from AED 17.95 million.
Meanwhile, the ADX-listed company’s revenues reached AED 20.80 million in H1-22, up from AED 10.19 million in H1-21.
