NIG and its subsidiaries own 50.28% shares of Noor and is the largest shareholder. National Industries Group Holding was established in 1960 under the name of National Industries Company (NIC) by virtue of the Commercial Companies Law in the State of Kuwait with 51% of shares owned by Kuwait Government and 49% owned by the private sector. The company has been quoted since 1984 in Kuwait Stock Exchange. In 1995 and 1996, Kuwait Government sold all its shares in the company to the private sector (Companies & Individuals) as part of its privatization program. On July 14th, 1998, Amiri Decree No. 153/1998 changed the name of the company from National Industries Company to National Industries Group K.S.C. and in April, 2003, it became National Industries Group (Holding) K.S.C. and the activities thereof were restructured to comply with the new legal entity


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