Kuwait Finance House’s shareholders approve capital raise to $3.68bln

The capital increase will be made through the issuance of 4.2bln shares

  
Kuwaiti traders are seen at the Kuwait Boursa stock market trading hall in Kuwait city, Kuwait September 16, 2019.

Kuwaiti traders are seen at the Kuwait Boursa stock market trading hall in Kuwait city, Kuwait September 16, 2019.

REUTERS/Stephanie McGehee
Kuwait - The extraordinary general meeting of Kuwait Finance House (KFH) approved to increase the authorised capital to KWD 1.118 billion.

The capital increase will be made through the issuance of 4.2 billion shares at the share’s nominal value, according to a bourse disclosure on Monday.

Such shares will be allocated to shareholders registered in the Ahli United Bank BSC’s register of shareholders at the date set for the execution of the acquisition at the exchange ratio of 2.32 shares of AUB in exchange for one share of KFH.

Accordingly, KFH’s authorised capital will be raised to KWD 1.118 billion, distributed over 11.176 billion shares at a nominal value of 100 fils apiece, while the company’s issued capital stands at KWD 697.649 million, distributed over 6.977 billion shares at a nominal value of 100 fils a share. All shares are in cash.

Meanwhile, the company’s ordinary general meeting (OGM) approved the listing of KFH on Bahrain Bourse after completing the merger with AUB BSC.

Source: Mubasher

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