"Kuwait Projects Co. gained the most in a year after a Kuwait newspaper reported that Arqaam Capital Ltd. valued unit Orbit Showtime Network at $2.5 billion before a possible initial public offering.
The investment company known as Kipco jumped 5.8 percent, the most since July 5, to 550 fils at the close in Kuwait City. The shares have surged 48 percent this year compared with a gain of 34 percent for the Kuwait SE Price Index. The measure rose 0.7 percent today. About 2.5 million Kipco shares traded, or 1.8 times the three-month daily average, according to data compiled by Bloomberg.
Local newspaper Al-Qabas today quoted a June report from Arqaam, valuing pay TV-company OSN, in which Kipco holds a 60.5 percent stake. Arqaam also raised Kipco’s price estimate to 640 fils from 480 fils. The company last month named Rothschild the sole adviser ahead of the potential sale."
'via Blog this'
No comments:
Post a Comment