Financial Brokerage Company (Kfic ) announced in a statement to the Boursa Kuwait today, Wednesday, that it has reached a preliminary agreement with Rasameel Investment regarding a merger process through absorption between the two companies, whereby "Kfic" will be the absorbing company, while Rasameel Investment Company will be the merged company.

The company indicated that the necessary procedures will be initiated to carry out the financial and legal due diligence by the relevant parties, in accordance with the provisions of the law and the requirements of Book IX (Merger and Acquisition) of the executive regulations of the Capital Markets Authority Law.

The Board of Directors of Kfic had approved on January 9, 2025, entering a new investment opportunity to acquire 100% of the shares of an unlisted joint-stock investment company (a licensed entity subject to the oversight of the Capital Markets Authority).