Boursa Kuwait halts trading on KFH pending news update

25/06/2024 ِArgaam
Logo ofKuwait Finance House (KFH)

Logo of Kuwait Finance House (KFH)

Boursa Kuwait announced suspending the trading on Kuwait Finance House (KFH) shares effective today, June 25, pending clarification of recent media reports.

 

According to data available on Argaam, Bloomberg reported on June 24, citing informed sources, that KFH is considering acquiring a substantial stake in The Saudi Investment Bank (SAIB).

 

For more news and details on M&As

 

The General Organization for Social Insurance (GOSI) holds 320 million shares in SAIB, representing 25.6% of the bank's capital.

 

Earlier this month, a Kuwaiti newspaper disclosed that negotiations are underway for a Kuwaiti bank to acquire a controlling stake of up to 50% in a Saudi bank listed on Tadawul All Share Index (TASI), with the potential deal valued at $1.7 billion.

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