Mubasher: Soor Fuel Marketing said that a profit worth KWD 1.98 million ($6.6 million) is expected to be generated from selling 40% of the company’s stake in Integrated Holding Co.
The financial impact of this transaction will be an increase in the shareholders’ equity, this impact will be registered in the income statements of the second quarter of fiscal year 2018, according to a bourse statement on Monday.
On Sunday, Soor has announced the selling of 3.21 million shares in Integrated at a value of 730 per share, with a total of KWD 2.27 million after discounting the sale commission.
At the stock level, Soor closed Monday’s session 0.77% higher at 131 fils.
