Kaya Middle East FZE acquires 100% stake in Kaya Trading LLC

Kaya Middle East FZE ("KME FZE") the step down subsidiary of the Kaya Limited ( "Company"), has acquired a 100% equity stake in Kaya Trading Limited Liability Company ("KTLLC"). Pursuant to the recent changes in regulations which have liberalized foreign ownership, foreign companies can now have 100% ownership in the UAE. Therefore, KME FZE acquired KTLLC.

Earlier, KME FZE had contractual arrangements in place in respect of the business carried out by KTLLC (as a sole establishment of the UAE national owner). KME FZE was already operating and obtaining full benefits from the operations and business of KT LLC.

Shares of Kaya Limited was last trading in BSE at Rs. 287.35 as compared to the previous close of Rs. 261.75. The total number of shares traded during the day was 1166 in over 169 trades.

The stock hit an intraday high of Rs. 290.00 and intraday low of 265.35. The net turnover during the day was Rs. 324364.00.

Source : Equity Bulls

Keywords

Kaya INE587G01015 KayaMiddleEastFZE Subsidiary StakeAcquisition KayaTradingLLC