Dubai: A human error added on to an automation issue has caused problems for Kuwait logistics giant Agility Public Warehousing Co.’s stock. There was some ‘unusual trading’ in the stock on Sunday (July 3), which according to the company was caused by human error by a broker handling its shares.
“The trade was made as a result of an error by a financial broker registered with the Boursa Kuwait,” Agility said in a statement. “The broker is also one through which Agility Public Warehousing Co. trades with.”
The broker in question ‘mistakenly’ offered 10 million of the company’s treasury shares for sale. This, the broker said, happened while using a ‘new automated trading system, which caused the unusual trading of the stock’.
And the solution? “Agility is working with the broker to explore the best ways to address the error that occurred’ to get those treasury shares back.
