By: Mohamed Farouk
Mubasher: Boursa Kuwait announced selling 16.081% of the Gulf Bank of Kuwait’s (GBK) capital in favour of Al Ghanim Trading Co. at an initial price of 312 fils per share.
Around 490.16 million shares in the bank were sold by Kuwait Investment Company at a total value of KWD 152.93 million ($504 million), according to a bourse filing on Wednesday.
The concerned parties will resume the remaining procedures of the deal through Kuwait Clearing Company on Thursday, 25 July 2019.
It is worth to mention that GBK’s capital amounts to KWD 304.81 million distributed on 3.048 billion shares at a nominal value of 100 fils each.
