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| 15 July, 2018

Kuwait's Dimah Capital to merge with Al Bilad before end-2018

Upon the merger process, the assets and liabilities of Al Bilad will be added to Dimah’s profile.

Screens showing U.S. President-elect Donald Trump are seen as traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.

Screens showing U.S. President-elect Donald Trump are seen as traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.

REUTERS/Stephanie McGehee

Kuwait -  Dimah Capital Investment Company is expected to complete the procedures of its merger with Al Bilad Real Estate Investment Co before the end of 2018, the CEO and deputy chairman of Dimah, Hosam Al Muzaiel, said, as reported by Al Anba Newspaper.

Al Muzaiel clarified that the delay in the merger procedures is due to the too many requirements by the regulatory entities, including the Capital Markets Authority (CMA) and the trade and industry ministry, Al Anba said.

It is noteworthy that Dimah Capital is a subsidiary of Al Imtiaz Investment Group.

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Upon the merger process, the assets and liabilities of Al Bilad will be added to Dimah’s profile.

The CEO of Dimah added that the merger will enhance the capital to increase to KWD 44 million, while the shareholders’ equity will grow to KWD 75 million, Al Anba said.

Source: Mubasher

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