Mubasher: Jiyad Holding Co. announced that it has existed from a sister company, Petro World Company for Buying and Selling Bonds and Shares, to acquire a 99% stake in Human Integrated for Administrative Consulting.
The divestment was finalised through an asset swap agreement, according to a bourse statement.
The deal did not affect Jiyad’s audited financial statements of the fiscal year ended 31 December, the Kuwait-listed firm said.
Jiyad Holding recorded a 61-time jump in profits during the third quarter of 2018 compared to the same period last year, with earnings reaching KWD 127,200 ($418,900).
