Aref Investment Group to auction stake in energy unit

28 December 2011: The Aref Investment Group from Kuwait is likely to sell its 29 per cent stake in Aref Energy Holding in an auction. 

In October 2011, Aref Investment had said that it would sell its position in Aref Energy -- a 72-percent stake -- to Development Projects at a total value of 73.1 million dinars ($263 million). A total of 217.5 million shares will be offered at an initial price of 134 fils each, totalling 29.15 million dinars.

Source: Trade Arabia