National Real Estate: KD 2.33 Million Profit from Sale of Subsidiary
National Real Estate Company announced a net profit of KD 2.33 million from the sale of shares in a subsidiary in the Cayman Islands.
Translated by Qiyas from النهار — Original source
The National Real Estate Company disclosed the expected financial impact of the deal to sell its entire stake in its Cayman Islands subsidiary, KNREC International Holding Company Limited, projecting a net profit of approximately 2.33 million Kuwaiti dinars. In a supplementary disclosure to the Kuwait Stock Exchange yesterday, the company stated that the expected profit from the transaction is estimated at around 2.33 million dinars, which will be recorded in the income statement upon completion of the sale, and will similarly increase shareholders’ equity in the balance sheet.
