Kuwait…Masharie shares rise after confirming its credit rating

The shares of Kuwait Projects Holding Company “Masharie”, listed and traded on the Kuwait Stock Exchange, rose after its credit rating was confirmed by the “Fitch” credit ratings agency, at the end of trading on Sunday.

The stock rose by 0.43%, closing at 92.9 dinars per share.

Kuwait Projects Holding Company “Masharie” reported that it obtained a long-term credit rating of “BB-”.

The company pointed to its strengths, such as the diversification of its investment portfolio through investing in multiple sectors, in addition to its presence in the Middle East and North Africa region.

Moreover, the company has a distinguished record of achieving long-term returns, its focus on the performance of its portfolio companies, in addition to achieving stable sales and profits over the years.

Trading in “Projects” shares occurred at the end of the session through 318 trading transactions, over 7.4 million shares, with a trading value of 687,743 thousand dinars.

The highest share price at the end of the session was 93.9 dinars, while the lowest share price was 91.5 dinars.

“Masharie” Company had recorded an increase in profits by 7.2%, to record 12.52 million dinars, during the first 9 months of the current year 2024, while it recorded profits of about 11.68 million dinars, during the same period of last year 2023.