Mubasher: Al Imtiaz Investment Group announced that two subsidiaries have signed a preliminary contract to sell a real estate asset at a total KWD 4.32 million ($14.24 million), according to a bourse statement on Monday.
This transaction is expected to be completed, in addition to receiving the value from the purchaser, within 30 working days starting from the date the initial contract was signed.
Al Imtiaz clarified that selling the building will result in a loss of about KWD 118,360 that will be registered in the income statements of the first quarter of 2019.
The two subsidiaries are owned by 68.05% and 68.62%.
At the stock level, Al Imtiaz closed Monday’s session at 131 fils.
