AlWatan has a report in its Monday issue about the heavy trading in Gulf Bank and Oula Fuel shares. On Sunday some 7.5 million GB shares worth roughly KD2.8 million were traded in 130 contracts while 7.2 million shares of Oula worth KD3 million in 206 contracts.
AlZumorrodah (literally Emerald) denied any connection with the deals in GB yesterday saying that it was a strategic investor in GB. And would be asking the Central Bank next week to allow it to increase its share from 8.6% to 15%.
The company noted that it had undertaken some large trades last week between two investment groups - essentially shares in GB against Oula Fuel. Yesterday AlZ was again trading apparently for that same group but this time selling shares in an investment company to buy shares in Oula Fuel for that group.
As per AlZ's website its main shareholders include AlZumorrodah Holding, Gulf Bank and Kamco. Respective percentages are not disclosed.
AlZumorroda Holding discloses its shareholders as:
- Dr.Maytham Mahmoud Haji Haider
- Mansour Mahmoud Haji Haider
- Murdiah Mahmoud Haji Haider
- Mahmoud Haji Haider Abdullah
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