Wednesday, Jun 06, 2012
(This story was originally published Tuesday.)
BEIRUT (Zawya Dow Jones)--Kuwait's IFA Hotels and Resorts (IFAHR.KW) said Tuesday that its board has proposed increasing the company's capital 40% by issuing nearly 181.6 million new shares at 0.23 Kuwaiti dinar ($0.82) each.
The share price will consist of a par value of KWD0.1 and an issue premium of KWD0.13, the company said in a statement posted on the Kuwait bourse website.
IFA HR, whose major shareholder is Kuwait's International Financial Advisors (IFA.KW), had a paid-up capital of KWD45.4 million at the end of 2011, according to Zawya.com data. IFA HR is listed on the Kuwaiti and Johannesburg bourses.
-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
06-06-12 0337GMT
