BBK has obtained approval -for listing on the Kuwait Stock Exchange (KSE), and is currently in process of completing the pre listing requirements.
Dr. Farid Al-Mulla, GM CEO. BBK, issued a statement clarifying recent speculative media reports about the listing:
'BBK is pleased to confirm that we have obtained approval to be listed on the KSE. We are now in the process of completing pre-listing formalities. The date of listing is not yet finalized and will be announced it in due course.
Regarding recent media speculations about a possible buy-out of BBK's other shareholders by Commercial Bank of Kuwait (CBK), Dr. Al Mulla said, 'BBK has not been officially advised of CBK's intention to buy out other existing Kuwaiti BBK shareholders.'
Earlier this year, CBK increased its stake in BBK from 6.75% where it currently stands at 19.37%. The current shareholder breakdown, after these transactions, is as follows: CBK (19.37%), Bahraini citizens and others (20.83%), Pension Fund Commission (18.80%), General Organization for Social Insurance (13.38%), Bank of Kuwait and Middle East (6.75%), Kuwait Investment Projects Co. Asset Management (Portfolio) (6.50%), Kuwait Investment Projects Co. Asset Management (5.18%), Kuwait Investment Authority (3.75%), Securities Group (3.44%), and Kuwait International Investment Co (2%).
-Ends-
Sana Essa
Corporate Communications
BBK
P O Box 597
Manama - Kingdom of Bahrain
Office: +973 207 240
Fax: +973 229 525
© Press Release 2006
