Rasiyat Holding Company issued a statement to Boursa Kuwait on Tuesday, announcing the signing of a non-binding preliminary agreement. According to the agreement, Rasiyat Holding Company plans to sell 20% of its ownership in its subsidiary, AlSeraj Holding Group to a third-party company. This 20% stake corresponds to 8,239,634 shares, with a total value of KD 5.40 million.
Rasiyat Holding Company stated that if the sale is completed, it will retain a 73.1% stake in the subsidiary. However, the company noted that the financial impact of this transaction cannot be determined at this time. The impact will only be calculated once all necessary approvals are obtained, and the final sale contract is signed, following the completion of the requisite procedures.