Ebtikar and Jordan Kuwait Bank Finalize MadfooatCom Stake Acquisition after Approval

Ebtikar for Financial Investment S.A.E and Jordan Kuwait Bank (ASE: JOKB) submitted a binding offer on February 29, 2024, to acquire a 30% stake in MadfooatCom for Electronic Payments PSC. The offer was accepted by MadfooatCom's shareholders, with the transaction awaiting necessary regulatory approvals in Jordan.

On September 4, 2024, Ebtikar for Financial Investment S.A.E and Jordan Kuwait Bank successfully completed the acquisition of the 30% stake in MadfooatCom, following the clearance of regulatory procedures.

Source: MarketScreener