The Boursa  Kuwait announced that, based on a notification from the Ministry of Justice - Public Execution Department, an auction for the sale of unlisted securities will take place on Sunday, April 6, 2024, in the electronic auction market for the account of the Ministry of Justice - Execution Department (Debtor: Al-Orfaj Holding Group Company) to settle the debt amounting to KWD 422,332.347 (Four hundred twenty-two thousand three hundred thirty-two Kuwaiti Dinars and 347 Fils). The sale will be conducted by the selling agent, Hermes Financial Group.

The sale will follow the provisions of Chapter Twelve of the stock exchange regulations, and the selling agent will be responsible for adhering to the rules of the stock exchange and the executive regulations of Law No. 7 of 2010 regarding the establishment of the Capital Markets Authority and the regulation of securities activities and its amendments as follows:

•    Company: Beatouna Recycling Company - Number of Shares: 18,898,207 shares.

The sale will take place in the electronic auction market under the unlisted securities trading system by entering purchase orders for bidders on the system. The bidding will start at 11:10 AM with a base price of five hundred Fils. If the sale is not completed in the first auction session, the selling agent may commence a second auction session five minutes after the first session at a base price of one hundred Fils. 
If the sale does not finalize in the second session, a third auction session may be held five minutes after the second session without a base price, with the auction awarded to the highest bidder for the offered quantity of securities.