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Kuwait Projects Company (Holding) K.S.C.P.
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ldpco@kipco.com
Authorized, Issued er!d Paid up
KIPCO Tcwar, Sharq, Kuwait City
Commercial register: 23118
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Cap!tsl: KD 504,847,626.900
P.O. Box 23982 Safat, 13100 K#"
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Supplementary Disclosure Form
28/12/2023
Kuwait Projects Holding Company K.S.C.P.
"KIPCO"
Supplementary
Disclosure
regarding
the
completion of transaction procedures with a
related party.
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13/12/2023
We would like to inform you that KIPCO has
completed
the procedures
for
a
sale
transaction of equity stake totaling 52.92% of
the issued and paid-up capital
of
its
subsidiary
United
Petroleum
Pro ec
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Company K.S.C.C for a total consideration of
KD 15,029,920 with the National Petroleum
Services Company K.S.C.P.
(KIPCO's
Group subsidiary
with an
ownership of
60.53%).
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There is no material financial impact on KIPCO's consolidated financial statements, as the sale and purchase transaction took place between the parent and a subsidiary, and the impact will be eliminated on consolidation.
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Samer Khanachet
Deputy Group CEO
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Kuwait Projects Company (Holding) KSC published this content on 28 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2023 11:24:42 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.