Al Hayat College acquisition deal worth KD 11.4 million concluded this week

[ 27 to 31 Aug 2023]

In August 2023, trading on the OTC Platform concluded the month with a total value of KD 14.2 million and a trading volume of 232 million shares. The significant value of trade can largely be attributed to the acquisition deal with regards to OTC code #983.

OTC code #983 Al-Hayat College Company For Educational Services recorded 5 deals this week, all at a price of 185 fils per share, for 61.7 million of its shares to the value of KD 11.4 million this week. This acquisition comes after receiving approval from the Competition Board in June 2023, allowing Al-Jari Holding Group to acquire 100% ownership of Al Hayat. Additionally, the authorized capital of OTC #983 was reduced by KD 1.2 million, bringing it down from KD 8 million to KD 6.8 million.

This week's trade value was dominated by

Total value of trade for this week - KD 11,668,530 compared to KD 170,425 traded last week.
Total volume of trade for this week - 78,544,927 shares compared to 85,216,553 traded last week.
Total number of deals for this week - 74 deals compared to 82 deals executed last week.

Active trading was done in OTC code #40 The Investment Dar Co. (Kscc) this week:

This week's trading volume amounted to 5.4 million shares done through 5 deals, with the closing price of 7 fils per share by the end of the week. So far this year, approximately 21.1 million shares have been traded, with a volume weighted average price of 2.7 fils per share.

This week, four deals were completed in the shares of OTC code #232 ALBAREEQ HOLDING CO. With these transactions, the total number of deals for this stock now stands at 125 for the year, making it the second highest traded stock. As of now, 5.6 million shares have changed ownership throughout the year, with a volume weighted average price (VWAP) of 10.9 fils per share. Furthermore, in August 2023, it was reported that the company initiated the distribution of 4% bonus shares. This decision was made during an extraordinary Annual General Meeting in June 2023, where the capital was increased to KD 45.4 million.

Upcoming AGMs:

OTC code #250 Ikarus Petroleum Company has an ordinary general assembly scheduled for the upcoming week. So far this year, 3.1 million shares in the company' have been traded with a volume weighted average price (VWAP) of 106.3 fils per share.
OTC code #501 Saudi Project Holding Company has an extra ordinary assembly scheduled to discuss the recommended reduction in its capital from KD 3 million to KD 2.1 million.
OTC code #391 Arch Real Estate Development has an extra ordinary assembly scheduled to discuss the liquidation of the company as recommended by the Ministry of Commerce
Amongst other agenda items, OTC code # 99 Hilal Cement Company will be discussing its financial results for the 2022 at its upcoming AGM. Up to this point in the year, there has been no trading activity in the shares of this company. The most recent transaction in 2022 was completed at a price of 60 fils per share.
OTC code #208 Mushrif Trading Contracting has a scheduled ordinary and extra ordinary AGM in September. The company was delisted from the main market and started trading on the OTC Platform in June 2022. This week, 1.7 million shares were traded in the company's shares. So far this year, 41 deals have been done in the company's shares with a volume weighted average price (VWAP) of 2.1 fils per share.

In other news, Kuwait Clearing Company reported that it has KD 35 million in unclaimed funds from investors as a result of unclaimed cash dividends and/ or profits.

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HYBRID DEALS - this week

Hybrid deals recorded the following performance in terms of the value and volume traded:

Number of deals: 49
Number of companies traded: 25
Volume of shares traded: 1,770,261 shares
Value of transactions: KD 63,988

Click here for the updated list of the 128 companies being traded as Hybrid deals - companies sorted on OTC code.

NEGOTIATED DEALS - this week

Negotiated deals recorded the following performance

Number of deals: 8
Number of companies traded: 6
Volume of shares traded: 8,072,681 shares
Value of transactions: KD 17,210

OFF MARKET NEGOTIATED DEALS - this week

Private Negotiated deals performed as follows.

Number of deals: 17
Number of companies traded: 7
Volume of shares traded: 68,701,985 shares
Value of transactions: KD 11,587,333

Real time information about other Private deals conducted through KCC (Kuwait Clearing Company) is only available on www.almowazi.com as part of the Live Market Watch subscription. Summary information is available on the home page under the tab 'Off market -Negdeals'.