Thursday, July 29, 2010

All in the Family?: Heavy Trading In Kuwait International Bank Shares - Who's Buying?


AlQabas reports that in the past 10 business days some 90.1 million shares of KIB (8.6%)  have been traded.  KD 19.5 million worth in 1121 contracts.  Apparently someone is buying because the share price  is rising.  2 fils yesterday on 7.5 million shares.  Compared to the KSE which is on a downward trend closing 17.7 points lower.

The speculation is that someone is accumulating a position.

The article does note the requirement for disclosure when one's position hits the 5% mark.  Though I suppose several of one's friends could buy just under the "wire".

Maybe Tessio, Clemenza, Fredo, Tom Hagen, etc.   One suspects not Barzini or Tattaglia.

2 comments:

Laocowboy2 said...

No blinding insights to offer but following the original post I have been watching the share. Massive 17.91mn shares volume (but still down a little) today. In a sector that shifted only 26.9mn shares. All this for a bank with a less than glorious past and an uncertain future. Curious.

Abu 'Arqala said...

Laocowboy2

Maybe it's a remake of "Butch Cassidy and the Sundance Kid"?

Old partners getting back together?

The identity of the new Chairman suggests a link to me. The nautical branch of the Family? But at present nothing but rank speculation on my part.