Kuwait .. “Equipment” shares rises to the highest price in 5 months

The share of the holding equipment group included on the Kuwait Stock Exchange ascended by 6.88% by closing trading on Monday, to close at 72 fils per share, to achieve its highest price in 5 months.

The trading on the holding of the Holding Equipment at that time came at 7.94 million shares, with a value of trading 559.08 thousand dinars.

The highest price of the share at that time was at 74 fils, while the lowest price was at 67 fils per share.

The Holding Equipment Company is one of the most prominent industrial and commercial institutions in the State of Kuwait, as it has a long history that extends for more than sixty years in the local market. The company was established on May 23, 1999, and it was listed on the Kuwait Stock Exchange since October 2004, which strengthened its institutional presence and financial stability.

Group Holding Equipment

The company specializes in supplying machines and spare parts, as well as providing maintenance services for equipment, mechanical and electrical services, with a clear focus on meeting the needs of the oil sector and government agencies. Its operational structure includes a group of basic sections that include the department of machinery, spare parts, and maintenance, as well as project management, energy and communications protection, and the storage department.

The company also owns a group of subsidiaries that enhance its operational and expansionist capacity, including Al -Khada International General Trading and Contracting Company, the Equipment Company, and the Euphrates Holding Group, in addition to the National Equipment Company for Machinery, Ifta and Tools Trading.

In the context of its efforts to reorganize its financial conditions, the Board of Directors approved the reduction of the capital by 5.5 million Kuwaiti dinars with the aim of covering the losses, which led to the reduction of the capital to 2.5 million dinars. Later, an increase in the authorized capital was approved to 10 million dinars, while the issued and paid capital increased to 8 million Kuwaiti dinars, as part of a plan aimed at strengthening the financial position and expanding the operational activities of the company.