With reference to the above subject, and in adherence to article (4-4) 'Dealing with Rumours and News' from module ten (Disclosure and Transparency) from the amended Executive Bylaws issued by CMA, and referring to the news circulated on social media about Kuwait Projects Company Holding "KIPCO" exiting its investment in Gulf Insurance Company", we would like to state the following:
KIPCO being a holding company, evaluates from time to time exit opportunities for its investments as part of its usual business activities. However, no binding and conclusive sale/purchase agreements have been executed that may require a disclosure as per CMA regulations.
We also reaffirm our commitment to remain in compliance with the instructions of the Capital Markets Authority in this respect.
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Authorized, Issued and Paid up Capital: KD 504,847,626.900
Tel:
180 5885
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KIPCOTower
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Fax:
+965 2294 3499
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Sharq, Kuwait City
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Email:
kipco@kipco.com
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P.O. Box 23982 Safat
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Web:
www.kipco.com
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13100 Kuwait
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Commercial Registration No.: 23118
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Kuwait Projects Company (Holding) KSC published this content on 23 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2023 06:42:11 UTC.
Kuwait Projects Company Holding KSCP is a Kuwait-based holding company engaged in the financial services, media, manufacturing and real estate sectors. The Company is organized, along with its subsidiaries, into six business segments: the Commercial banking segment covers commercial banking activities; the Asset management and investment banking segment covers asset management and investment banking activities, including asset management, corporate finance, investment advisory and research, and investment of the Company in sectors, such as education and healthcare; the Insurance segment represents insurance activities and other related services; the Media segment provides digital satellite network, Internet and other related services; the Industrial segment covers activities in industrial project development; the Hospitality and real estate segment includes activities in the hospitality and real estate sector, and the Others segment includes management advisory and consultancy.