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Al-Raja’an bank shares sales set

This post has been read 11249 times!

KUWAIT CITY, Jan 3: The Kuwait Stock Exchange is preparing to carry out the Public Prosecution order regarding the sale of about 30.258 million shares of Kuwait Finance House (KFH), owned by the former General Manager of the Public Institution for Social Insurance, late Fahd Al-Raja’an, reports Al-Rai daily. Reliable sources told the daily this ownership represents a portfolio owned by Al-Raja’an in the shares of Ahli United Bank, Bahrain, pointing out that the Public Prosecution office informed the KSE to take necessary measures for the sale, which will begin on January 15 and end on January 17.

The sources indicated that the liquidation will take place in accordance with the modern controls regulating the compulsory execution processes set by the KSE in cooperation with the Execution Department at the Ministry of Justice and approved by the Capital Markets Authority, noting that the completion of the process will be in accordance with the supply and demand mechanisms used in trading in shares listed on the KSE through the main trading screen. This is to provide an opportunity for the general public who wish to buy without discrimination.

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