Ekttitab Holding sells 99% stake in unit

Ekttitab Holding sells 99% stake in unit

The transaction will affect the income statement with a loss of around KWD 1.2m













04 October 2020 10:13 AM





























Mubasher: Ekttitab Holding, listed on the Dubai Financial Market (DFM) and Boursa Kuwait, has sold its 99% capital share of one of its subsidiaries 'Arabian Pen Educational Company' at a total value of KWD 450,000.





Arabian Pen Educational Company was sold to one of the subsidiaries of Al Madina for Finance and Investment, according to the company's disclosure to Boursa Kuwait on Sunday.





The transaction will affect the income statement with a loss of around KWD 1.2 million.





It is noteworthy to mention that in the first half (H1) of 2020, the net losses attributable to the shareholders of Ekttitab decreased to KWD 8,955 from KWD 237,218 in the same period of 2019.