(MENAFN- The Peninsula) Sachin Kumar |
Doha: Barwa Real Estate Company said yesterday that it intends to sell its shares in Al Imtiaz Investment Group Company, which is a leading Kuwaiti Sharia'a compliant investment group. Over 276.6 million shares, representing 24.40 percent of the company's issued shares will be sold, said Barwa Real Estate Company in a statement to Qatar Stock Exchange.
“Barwa Real Estate Company announced its intention to sell its shares in Al Imtiaz Investment Group Company K.S.C., a public joint stock company registered in the State of Kuwait. The number of these shares is (276,631,657) shares, representing 24.40 percent of the company's issued shares,” said Barwa Real Estate Company in a statement.
The sale process will take place in accordance with the regulatory procedures issued and the regulations set by the Kuwaiti Capital Markets Authority and the Kuwait Stock Exchange.
This disclosure is made on the same date as the disclosure sent to the Capital Markets Authority and the stock exchange in the State of Kuwait regarding the same matter.“This is in compliance with the regulations of the Qatar Financial Markets Authority regarding disclosure requirements for listed companies,” said the company.
Barwa will later disclose the details of the sale if it occurs, as required by the regulations of Qatar Financial Markets Authority.
Al Imtiaz Investment Group Company has a diversified portfolio of assets that span across different markets globally with a focus on the GCC and wider MENA region. It is regulated by the Capital Markets Authority, Central Bank of Kuwait, and Ministry of Commerce & Industry.
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