Ayan Leasing and Investment Company announced in its statement to the Boursa Kuwait today, Monday, that it has increased its ownership in Tawazun Holding, a sister company within the same economic group, by 7.6% of Tawazun Holding's capital, amounting to 2.35 million Kuwaiti Dinars.

As a result, it is necessary to conduct a restructuring to reassess the financial classification of Tawazun Holding within the group.

Aayan clarified that the impact of this material information involves taking the necessary accounting measures to reclassify the company's investment in Tawazun from an associated company to a subsidiary.

Consequently, all its assets, liabilities, revenues, and expenses will be consolidated during the first quarter of 2025.

Furthermore, the impact of the fair valuation of Tawazun Holding will be determined at a later stage in compliance with the requirements of international financial reporting standards, with disclosure of the fair valuation impact to occur once it is completed.