KUWAIT CITY, May 16, (RTRS): Dubai-based Shuaa Capital will auction its 48.35 percent stake in Kuwaiti chemical firm Al Kout Industrial Projects Co, Kuwait’s bourse said in a statement on Sunday. The stake, worth about 16.42 million dinars ($56.68 million), will be auctioned on Monday, it said, adding Kuwait Financial Centre (Markaz) is an “initial buying party”. The statement did not give further details. Shuaa said on Tuesday it received the Kuwaiti bourse’s approval to sell its stake in Kout, which it bought in 2006. Shuaa is active in asset management, brokerage, private equity and investment banking.