KFIC had previously maintained an average ownership of around 3.6% in KRE for the past six months. Through this rise, KFIC intends to increase trading activities in regional stock markets.
Sana Jumah, CEO of KFIC, said: “We’ve been looking to increase our trading activities in the Kuwait Stock Market, which has witnessed a conservative return of trading performance recently, but we were waiting for the right stock with strong fundamentals, at the right price, and at the right time.
“As the market shows signs of a potentially slow and extended recovery, we will continue to seek short-term and medium-term investments that serve our conservative investment appetite if and when they surface.”
Established in 2000, KFIC’s activities include investment banking, asset management, and brokerage services.
