Kuwait- Shares of VIVA small companies highly demanded
(MENAFN- Kuwait News Agency (KUNA)) KUWAIT Feb 1 (KUNA) -- Shares of the Kuwait Telecom Company's (VIVA) were highly demanded during Monday's trading as the Saudi Telecom Company (STC) announced acquisition of around 52 percent of VIVA's shares.Small-sized companies' stocks were also highly bought at today's trading session which witnessed up-and-down performance from opening to closing.Several dealers had to get rid of their VIVA stocks as a result of a 10 percent drop following the ITC's acquisition announcement.Selling and buying orders were carefully considered as there was high demand for the stocks that were priced between 50 and 100 fils thus reflecting on the closing of the three main indices in the red zone.Kuwait Stock Exchange (KSE) ended Monday's session in the red zone as the Price Index lost 7.37 points reaching 5107.105 points the Weighted Index inched down by 1.73 points reaching 351.7 points and the KSX 15 Index lost 2.2 points to stand at 827.6 points.Earlier in the day the Saudi Telecom Company (STC) said that the voluntary acquisition period for buyout of Kuwait Telecom Company's (VIVA) shares has ended adding that total value of collected shares reached 25.8 percent. (pickup previous) mka.ht.mt
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