Boursa Kuwait announces that it has completed today Wednesday, the scheduled procedures for the sale of 110 million shares, representing 10.007% of Qurain Petrochemical Industries Company to Al-Janah Holding Company (buyer).
Boursa Kuwait published on its website today that the sale process started at an initial price of 320 fils. The auction was finalized at 425 fils per share for a total value of KWD 46.75 million.
The agreement was signed by the contracting parties, whereas the remaining portion of the payment and transfer procedures will be completed through Kuwait Clearing Company (KCC) by 11:00 am on Thursday, December 23, 2021, at the latest. 
The Stock Exchange explained this morning that the sale process was for an initial price of 320 fils per share, for a total value of KWD 35.20 million, indicating that determining the auction’s details was announced after an agreement was reached between Petrochemical Industry Company (seller) and Boubyan Petrochemical Company (buyer).
It also announced this morning that other parties have submitted their bids to enter the auction, which was scheduled at 1:00 p.m., explaining that the new parties are Al-Janah Holding Company (second bidder), and Wafrah International Investment Company - clients account (third bidder) on behalf of the Public Institute for Social Services (PIFSS).