Kuwait.. Markaz shares rise after selling the Equestrian Academy

The shares of the “Real Estate Trade Centers” Company, known as “Markez”, listed and traded on the Kuwait Stock Exchange, rose after it announced its approval to sell the “Equestrian” Academy to the “Awlad Dashti General Trading and Contracting” Company, at the end of trading on Wednesday.1

The stock rose by 2.99%, closing at 65.5 fils.

The Real Estate Trade Centers Company revealed that the sale deal amounted to 2.15 million dinars.

The company also indicated that the expected profits from this deal are estimated at approximately 500 thousand dinars, as the sale amount will be deducted from the debts owed to the “Real Estate Trade Centers” Company, towards “Awlad Dashti General Trading and Contracting” Company.

Trading in “Markaz” shares occurred at the end of the session through 379 trading transactions, over approximately 5 million shares, with a trading value of 334,796 thousand dinars.

The highest share price at the end of the session was 71.9 fils, while the lowest share price was 65.4 fils.

The Commercial Real Estate Centers Company achieved profits of about 5.45 million dinars during the first 9 months of the current year 2024.

While the company recorded profits amounting to 100.36 thousand dinars, during the same period of last year 2023.