supplementary disclosure form with the required details.
Sincerely,
ت
،،،ما�ﺣﻻا ﻖﺋﺎﻓ لﻮﺒﻘب اﻮﻠﻀﻔﺗو
________________________________________
Hatem Abouelfetouh
ح�ﺘﻔﻟا ﻮﺑا ﻢﺗﺎﺣ
Senior Vice President
لوأ سﯾﺋر بﺋﺎﻧ
Note: This is a translation for ease of reference only. The binding text is the Arabic text. In case of any difference between the Arabic and the English texts, the Arabic will prevail.
Supplementary Disclosure from Kuwait Financial Centre K.P.S.C regarding US
based consolidated subsidiary.
Date of Previous Disclosure
03 September 2023
We are pleased to announce that a US-based consolidated subsidiary of
Developments that occurred to
Kuwait Financial Centre K.P.S.C had completed the sale of a property,
classified as assets-held-for-sale, for USD 82 Million (equivalent to KD 25.3
the disclosure
million)
The sale is expected to result in a net gain of USD 16.4 million (equivalent to
KD 5.1 million) of which net gain attributable to shareholders is expected to
The financial effect of the
be USD 8.2 million (equivalent to KD 2.5 million). An amount of USD 37
occurring developments (if any)
million (equivalent to KD 11.5 million) shall be used to settle a project
borrowing.
__________________________
Hatem Abouelfetouh
Senior Vice President
Note: This is a translation for ease of reference only. The binding text is the Arabic text. In case of any difference between the Arabic and the English texts, the Arabic will prevail.
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MARKAZ - Kuwait Financial Centre KPSC published this content on 09 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2023 05:09:11 UTC.
Kuwait Financial Centre KPSC is a Kuwait-based asset management and investment banking company in the Middle East/North Africa (MENA) region. The Company provides several products and services including asset management, investment banking, real estate investment, wealth management and research. Its asset management services include diverse proprietary as well as customized investment solutions across mutual funds and specific portfolio management. The Company offers investment banking solutions across equity capital markets and debt capital markets, listings, capital structure advisory, restructuring, mergers and acquisitions advisory, among others. Its real estate investment portfolios focus on assets across residential, commercial, and industrial segments. It has a database of regional businesses for its clients looking for tailored research. Its equity, fixed income and real estate funds include Markaz Real Estate Fund, Markaz Mumtaz Fund, Forsa Financial Fund, among others.