Kamco Invest on Tuesday announced selling around 16.8% of its stake in a number of special-purpose companies (SPCs) for $16.9 million (KWD 5.2 million).
The partial exit is from investments in companies out of Kuwait, according to a bourse statement.
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The transaction’s material impact on Kamco’s financial position will be provided in due course.
It is worth pinpointing that during 2019, Kamco achieved a net profit of KWD 3.03 million, compared to KWD 2.5 million in 2018, posting an 18.57% annual increase.
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