The volume of trading at the beginning of transactions reached about 242.6 million shares, worth 43.8 million Kuwaiti dinars, through the implementation of 9,093 deals, and 10 sectors in the Kuwait Stock Exchange fell, led by the real estate sector by 2.37%, followed by the technology sector by 2.36%, followed by the financial services sector by 1.90%, then the industrial sector. By 1.69%, then the banking sector by 1.68%, then the utilities sector by 1.50%, then the basic materials sector by 1.45%, then the telecommunications and consumer services sectors by 1.13% and 1.01%, respectively, while the insurance sector increased by 0.26%.
The share of Kuwait Hotels Company came on top of the green list listed on the stock exchange, up by 31.83%, followed by the share of Real Estate Trade Centers Company by 4.64%, then the share of Asia Capital Investment Company by 4.60%, while the share of Al-Manar Finance and Leasing Company led the red list, down by 9.59%, followed by The share of Unicap for Investment and Finance by 9.57%, then the share of Giad Holding Company by 9.50%.
In a related context, the Saudi Mobile Telecommunications Company – Zain Saudi Arabia announced the signing of an agreement to reschedule the joint murabaha financing amounting to 3.85 billion Saudi riyals (out of a total of 5.9 billion Saudi riyals due in 2023) until 2025, with a total value of 6 billion Saudi riyals. Permission to pay off the principal for a period of two years from the date of refinancing, with better commercial terms. In addition, this agreement includes working capital facilities of one billion Saudi riyals (which was 647 million riyals in 2018) until 2025, which will provide additional liquidity to finance business growth plans Therefore, the company will only withdraw the value of the outstanding amount from the murabaha financing (3.85 billion Saudi riyals) and the rest of the amount will be withdrawn in installments in line with the company’s plans, including the payment of the payments owed to the Ministry of Finance, starting from the year 2021.
In another context, Al Madina Finance and Investment Company said that Al Madina Group will amend the accounting classification for investment in an associate company – Ann Digital Service Holding Company – to be included in the list of investments in fair value through profit and loss statement, and accordingly the financial statements of the group will be affected by achieving losses of about $ 490 Approximately one thousand Kuwaiti dinars.
In a separate context, the Bahrain Kuwaiti Insurance Company announced, informing the shareholders and the market of the company’s intention to buy treasury shares through the Bahrain Stock Exchange, based on the approval granted by the Central Bank of Bahrain on September 28, to purchase Treasury shares not exceeding 10% within a period not exceeding 90 days from the date of approval, noting that the current ownership rate is 0.365%.
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