VOL. XLIV

No 31

30-July-2001

KUWAIT

KuwaitInvestment Authority Sells Off Stake In Arab Bank For $96.7Mn

The Kuwait Investment Authority (KIA) sold off its400,000 shares in Jordans Arab Bank on 24 July to Jordans state-run SocialSecurity Corporation (SSC), following several months of speculation as to whowould take up the holding. The shares were purchased for JD68.6mn ($96.7mn), orJD171.5 per share, increasing the SSCs stake in the bank and reinforcing itsJordanian ownership. The move also...