Kuwait Aluminium Extrusion Company K.S.C.C.  announced the sale of all the Company’s shares and assets, as described below in a public auction, on Sunday, 3 July 2022, at the Courtyard Marriott Hotel, starting at 9:00 am.
First: The shares offered for sale
All shares owned by all shareholders of Kuwait Aluminium Extrusion Company K.S.C. (Closed), i.e., 25 million shares, at a base price of  KWD 7.16 million
Second: The company's assets
The winning bidder will own all Kuwait Aluminium Extrusion Company’s assets, the most important of which are the company’s headquarters and its operational business center located on 15,000 m2 industrial plot (“usufruct”) in Sabhan Industrial Area, as well as the Company’s tangible and intangible assets.
Third: Company’s highlight
Kuwait Aluminium Extrusion Company is a Kuwaiti closed shareholding company established on 31 May 1977 with KWD 2.5 million in capital, distributed over 25 million shares at a nominal value of 100 fils per share. The company’s activities revolve around carrying out industrial projects and commercial activities in the field of aluminum and metal works. The company is registered in the commercial register under No. 25509.
Fourth: Auction Terms
(1)The auction starts at a base price of  KWD 7.16 million. (2) Participants are required to pay KWD 716,000, or 10% of the initial price by issuing a certified cheque to Kuwait Financial Center - Clients - Local Portfolio, as per the data provided in the terms of reference. (3) Pay 30% of the value of the final sale in the same auction session or the next business day at the latest, through a bank transfer or issuing a certified check to: Kuwait Financial Center - Clients - Local Portfolio, as per the data provided in the terms of reference. (4) Make the final payment within five business days from the award date, through a bank transfer or by issuing a certified cheque to Kuwait Financial Center - Clients - Local Portfolio, as per the data provided in the terms of reference. (5) The winning bidder shall in all cases bear the fees and expenses for amending Kuwait Aluminum Extrusion Company’s Memorandum of Incorporation to reflect the public auction’s results. (6) Interested parties wishing to view the company’s information in the virtual information room and obtain a brochure of conditions is required to pay KWD 500 by issuing a certified cheque to Kuwait Aluminum Extrusion Company K.S.C. (Closed). By making that payment, participants fully acknowledge that they reviewed all the information and data related to the sale of the entire shares and assets of Kuwaiti Aluminium Extrusion Company (K.S.C.) Closed. (7) Anyone wishing to bid is required to sign an agreement to enter the public auction. (8) The process of transferring the shares of Kuwait Aluminium Extrusion Company to the auctioneer is carried out pursuant to the guidelines governing the trading of unlisted securities (OTC) issued by Boursa Kuwait and the winning bidder shall bear the fees, expenses and charges related to transferring the ownership of shares according to the list of fees approved by Boursa Kuwait. (9) This announcement is published in line with applicable procedures and regulations as stipulated by the concerned authorities regarding the procedures for transferring the ownership of the company’s shares and its assets, and upon the request of the entity designated to initiate the sale procedures.