Kuwait-Mubasher: Boubyan Petrochemical said that its subsidiary, Al Borg Medical laboratories, received competitive offers from investors to purchase stakes in the unit, according to a statement issued on Sunday.
Al Borg Medical laboratories has estimated the value of these offers to be about $400 million.
Boubyan clarified that it had acquired its stake in Al Borg four year ago when it had a value of $100 million.
Al Borg’s board of directors is still looking into the received offers, and will announce about any further updates or financial impact.
Boubyan’s stock levelled up 3.85% to 540 fils, before closing Sunday’s session, as 867,000 shares were traded with a value of around KWD 455,700.
