Tristar Holdings Limited, a subsidiary of Agility Public Warehousing Company KSCP, has signed an agreement with Gulf Investment Corporation (GIC) in Kuwait for the issuance of new shares in the company to which GIC will subscribe for a consideration of 100 million US dollars.
After the purchase of the new shares, GIC will hold 19.4% of the total number of shares issued by Tristar, whereas Agility and Mr. Eugene Mayne, the founder of Tristar and its Chief Executive, will hold 64.5% and 16.1% respectively.
The proceeds of the transaction will be used for the growth of Tristar and its future expansion.
Investor Relations Department
Agility Public Warehousing Company