A'ayan to offer 20% of real estate company
A'ayan Leasing & Investment Company is about to offer for private subscription 20% of its real estate company under establishment in Mecca and Al-Madina in the next few days, reported Al-Rai al-Aam newspaper on September 29.
This offered portion equals to 40 million shares in price of 110 fils per each share including the subscription allowance. Some 80% of the company's capital, totaled KD20 million, is covered by the main founders, who are A'ayan Leasing & Investment Company, Haj and Umra Services Company, Mashaeer and other strategic partners.
The company is expected to be included in the Kuwaiti stock exchange during the last quarter of next year. As for the company's projects, they will include hotels, many buildings of hotel rooms, purchasing real estate assets in wholesale prices and selling them in retail prices, and re-marketing of hotel rooms for pilgrims after a full purchase of them.