VOL. XXXIX

No. 1

2-October-1995

KUWAIT

Kuwait Government To Sell Stake In Kuwait Insurance Company

The Kuwait Investment Authority (KIA), the Kuwaiti Government's investment arm, announced on 27 September that it will sell its 6.5% stake in the Kuwait Insurance Company (KIC) as the next step in the state's year-old privatization program. The KIA holds 12mn shares of KIC, estimated to be worth KD6mn ($20mn) at KD0.500 per share. The shares will be auctioned on 18 October at KD0.500 each...