Kuwait’s International Financial Advisors (IFA) is divesting its entire stake in Addax Bahrain for a little over $6 million.

The company has just signed a deal to sell its shares, representing a 30.285% stake, to Sanam Real Estate, IFA confirmed on Monday.

Last month, the IFA’s board of directors approved the sale of its shareholding in Addax, amounting to more than 2.9 million shares.

The financial impact of the transaction will appear in the second quarter of 2025, after all the procedures are completed.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com