Kuwait— The Educational Holding Group announced Thursday that it achieved a net profits of 6.7 million Kuwaiti dinars ($20.3 million) for the first nine months of 2022, with a growth of 1.3 percent compared to the same period last year.
The company said in a disclosure published on the Boursa Kuwait website that the earnings per share amounted to 115.6 fils during its fiscal year ending on August 31, 2022.
The Educational Holding Group, which was established in 1982 and listed on the Kuwait Stock Exchange in 1993, provides educational and training services in accordance with Islamic Shariah principles.
Earlier this month, Kuwait Capital Markets Authority approved the merger between Educational Holding Company and Boubyan Petrochemical Company with share exchange ratio of 3.01 shares of Boubyan Petrochemical for each share of Educational Holding Company.
During the first quarter of 2017 Boubyan had acquired a 53 percent stake in Educational Holding for $129 million. It later increased its stake by 25 percent through a mandatory tender offer (MTO) during Q4 2017 for $63 million.