Al-Kuwait Al-Youm Gazette announced here on Monday the establishment of two shareholding companies with the capital of KD six millions, according to KUNA. Global Capital Holding was established as a Kuwaiti shareholding company with a capital of KD five millions, distributed over 50 millions cash-shares, worth KD 100 per share. Sadeem Holding Group was established as a Kuwaiti shareholding company, with the capital of KD one million, distributed over 10 million shares, and valued 100 fils per share. Purchase of Kuwaiti and foreign companies' shares, besides owning shares or stakes in Kuwaiti or foreign limited liability companies are some of the aims of the previously mentioned two shareholding companies. The two companies also work in loaning operational companies in which they own shares and guarantee them to others and in this case the shares of the holding company in the capital of the borrowing companies should not be less then 20 percent. They also can possess movable properties and real estates needed to practice their activities within the legal limits. The gazette added that the two shareholding companies are allowed to make use of the financial surpluses, through investing them in financial portfolios managed by companies and specialized bodies.
