Kipco Asset Management Co. (KAMCO), a Kuwaiti investment banking and financial advisory firm, sold its 6.2 percent stake in Advanced Technology Co. (ATC) for 7.8 million dinars ($28 million), according to a statement to the Kuwait Stock Exchange today.

Kipco Asset, known as Kamco, didn’t make any profit from the sale, according to the statement.

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net