Kuwait-based and publicly listed company Gulf Cable & Electrical Industries (KPSC) has acquired 14.4 per cent of Boursa Kuwait on an investment of $37.56 million, Zawya reports.
The operation provides KPSC, 28,925,610 shares in Boursa Kuwait.
Boursa Kuwait, controlled by the Kuwaiti state, had reported a net profit attributable to owners of the parent company of 4.2 million Kuwaiti dinars for the year 2019, compared to a net profit of 8.42 million Kuwaiti dinars for the year 2018, Zawya notes.
Founded in 2003, Boursa Kuwait provide financial services including Facilitating investor’s trading, providing public information, ensuring correct disclosure of vital information and enforcing securities.
KPSC other hand is into industrial manufacturing. It produces power and electrical cables, flexible cords, telecommunication and control cables, low voltage joints, transformers, switches and overhead conductors.
Gulf Cable acquires 14.4 per cent of state-owned Boursa Kuwait
