Mubasher: Gulf North Africa Holding has sold 1.09 million shares in Qatar’s QInvest, according to a filling to Boursa Kuwait on Thursday.
The deal was sealed by the signing of a share repurchase agreement with a total value of KWD 216,470 ($713,128).
The transaction resulted in a loss of KWD 95,700 which will be recorded at par value in the company’s interim financial statements for the fourth quarter of 2019.
It is noteworthy that Gulf North Africa’s loss declined by 13.7% to KWD 50,590 year-on-year in the first nine months of 2019.
