Kuwait’s Bayan Investment Company and Coast Investment and Development Company have established a closed shareholding company that will invest in various Iraqi industries, reported the Kuwait Stock Exchange.
The new Babel Holding Company has a targeted capital of 60 million Kuwaiti dinars ($203 million) and both firms will each hold a 20 percent stake in the total assets.
Bayan Investment Company was incorporated in 1997 by a number of prominent local businessmen and a group of financial and banking institutions, with the objective of carrying out financial investment transactions covering the various economic sectors inside and outside Kuwait.
The company offers its shareholders and clients different investment and consultancy services, both locally and internationally. Among those services is the professional management of investment portfolios. The company’s clients include both individuals and institutions. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
