Humansoft sells shares

Humansoft has announced it is reselling 40% of its shares, to be managed by the Kuwaiti Financial Centre for around 1060 Kuwaiti fils per share. The initiative is considered a step towards listing Humansoft in the Kuwaiti stock market in one year’s time.

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By  Alicia Buller Published  June 15, 2004

Humansoft has announced it is reselling 40% of its shares, to be managed by the Kuwaiti Financial Centre for around 1060 Kuwaiti fils per share. The initiative is considered a step towards listing Humansoft in the Kuwaiti stock market in one year’s time. The IT training company has achieved income growth year-on-year of approximately 33% since 1998 and its capital is estimated at US$10 million. The initiative is a strategic move to expand its base of share holders, as part of a regional expansion plan. “Through our regional expansion plan and success in several business aspects, we decided to take action to transform the group into a share holding company to maintain sustainability. The company’s international products and services have encouraged us to approach opportunities such as the stock market, which will automatically create and open finance and investment channels in different fields,” says Fahed Al Othman, Humansoft chairman and managing director. “The number of alliances we have predicts that the company is growing significantly. Recent projects include the provision of e-learning services to government authorities and partnerships with Dubai-based Tejari.com and the American University in Beirut,” he adds.

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