Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with “Oman Construction” to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya’s share is 40% while 12% is for Oman Construction and 12% for “Mina” real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.
KFH Capital initiates the coverage on the stock with a strong BUY recommendation and at a calculated fair value range of KWD 0.170 to KWD 0.175
With reference to the above mentioned subject and article 4-4 of chapter 4 of book 10 of the executive regulation of law No.7 of 2010 regarding the establishment of the Capital Markets Authority and regulating securities’ activities, kindly be advised that:
| Date: | 17/1/2017 |
| Name of listed company | Al Mazaya Holding Co. K.S.C.P |
| Material information | This is to comment on the current news published by KFH Capital on their website to their clients and on the report we received today from them under the title “Initiation – Equity Coverage Report” on AL-Mazaya Holding Company”. The content of the news is as follows:
(KFH Capital initiates the coverage on the stock with a strong BUY recommendation and at a calculated fair value range of KWD 0.170 to KWD 0.175, higher by 49.1% to 53.5 % on its current trading price at Boursa Kuwait in accordance with the valuation methods mentioned in their report). The company clarifies that this news and valuation was issued by an independent entity which is KFH Capital and the company did not interfere in the method of determining the fair value disclosed in the report, and that the report explained the method KFH Capital used to reach this result and conclusion. |
| Effect of the material information on the company financial position | There is no financial impact |
