Kuwait’s Jazeera Airways said it completed its capital increase subscription process with a total value of 10 million Kuwaiti dinars ($33 million) through the issuance of 20 million shares at a price of 500 fils per share. 

This represented 10 percent of the issued and paid-up capital of the airline company, it said in a joint statement with Kuwait Financial Centre, which acted as the lead manager. 

The subscription coverage rate of the capital increase stood at 210 percent, the companies said, marking the completion of the first tradable preemptive rights in Kuwait, which ran for 21 days to 5 July. 

Preemptive rights were traded on Boursa Kuwait until 28 June, at a reference price of 143 fils per right for the first day of trading and average price of 165 fils per right, which resulted in the trading of approximately KWD460,000 worth of preemptive rights. 

(Writing by Brinda Darasha; editing by Mily Chakrabarty) 

brinda.darasha@refinitiv.com 

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