Mubasher: Kuwait’s Capital Markets Authority (CMA) approved the merger contract draft between The Securities House as the merger and Al Aman Investment as the merged.
The merger shall be subject to the provisions of law no. 7 of 2010 regarding the establishment of the CMA and regulating securities activities as well as executive regulation and amendments, the two companies said in separate disclosures to Boursa Kuwait on Sunday.
Both companies will disclose any relevant developments in due course as per the requirements stipulated in the disclosure. Additionally, they noted that there is no current financial impact on the companies’ financial positions.
Earlier in May 2019, the two companies consented to consult future investment advisor Protiviti Member Firm Kuwait as well as the asset valuation report concerning the said merger.
It is worth pointing out that The Securities House owns 50% of Al Aman Investment’s capital, which amounts to KWD 15 million.
