Ahli United Bank buys 7.28% stake in Bank AlJazira for $173 mln

23/04/2018 Argaam

 

Ahli United Bank (AUB) Group, which is listed in Kuwait and Bahrain, acquired 59.69 million shares, or a 7.28 percent stake, of Bank AlJazira for a total value of almost $173 million, the bank said in a statement to Kuwait Stock Exchange (KSE).

 

The deal came as part of AlJazira’s capital hike process, which was finalized in April.

 

“This investment is not envisaged to have any material impact on the Ahli United Bank BSC financial position,” the bank added.

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