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Kuwait Stock Exchange, will hold an auction to sell 29% of Aref Energy
Kuwait Stock Exchange announced on Thursday it will be held next Wednesday, a public auction to sell 29 percent of Aref Energy Holding Kuwait initial amount of 29.15 million dinars (106 million dollars).The Kuwait Stock Exchange on Thursday in a statement on its website that it was agreed between each of the Muthanna Investment Company (Account clients) Company and Athman Al Ahlia General Trading Company as a party to the seller and the development projects by holding an initial buyer.The Kuwaiti AREF Investment Group said in October last year it agreed to sell its stake of 72 percent in Aref Energy for development projects Holding Company owned 100 percent of Kuwait Finance House (KFH) for $ 73.1 million dinars.The statement said on Thursday that the number of shares offered for auction 217.5 million primary shares and the price of 134 fils per share and total value of 29.15 million dinars.It consists of a thousand dinar fils.The statement noted that those who wish to join the auction to deposit with the broker no later than seven o'clock GMT on implementation of the certified check worth 10 percent of the total price of the initial sale.The statement pointed out that the auction will be held in the building of the Kuwait Stock Exchange will be laying on the primary buyer is not made another buyer at a higher price."If another buyer offers a higher price than the price of primary and went on to that price five minutes without advancing another bidder at a higher price establishes the auction."
Kuwait Stock Exchange announced on Thursday it will be held next Wednesday, a public auction to sell 29 percent of Aref Energy Holding Kuwait initial amount of 29.15 million dinars (106 million dollars).The Kuwait Stock Exchange on Thursday in a statement on its website that it was agreed between each of the Muthanna Investment Company (Account clients) Company and Athman Al Ahlia General Trading Company as a party to the seller and the development projects by holding an initial buyer.The Kuwaiti AREF Investment Group said in October last year it agreed to sell its stake of 72 percent in Aref Energy for development projects Holding Company owned 100 percent of Kuwait Finance House (KFH) for $ 73.1 million dinars.The statement said on Thursday that the number of shares offered for auction 217.5 million primary shares and the price of 134 fils per share and total value of 29.15 million dinars.It consists of a thousand dinar fils.The statement noted that those who wish to join the auction to deposit with the broker no later than seven o'clock GMT on implementation of the certified check worth 10 percent of the total price of the initial sale.The statement pointed out that the auction will be held in the building of the Kuwait Stock Exchange will be laying on the primary buyer is not made another buyer at a higher price."If another buyer offers a higher price than the price of primary and went on to that price five minutes without advancing another bidder at a higher price establishes the auction."
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