Kuwait Finance House plans to sell stake in Nafais Holding

Kuwait Finance House plans to shed its stake in education investment company Nafais Holding. KFH is currently restructuring its activities, which could also include a sale of assets such as its Malaysian business. This is ahead of planned divestments by its largest shareholder, the Kuwait Investment Authority. The Islamic bank is the second-largest shareholder in Nafais with a 19.01 percent stake. Nafais, involved in education, healthcare, financing and investment, has a market capitalisation of around $206 million, which would value the bank's stake at close to $40 million. The Islamic bank only acquired the Nafais stake in March 2014 from Aref Group Company.