|13 June, 2019

Kuwait KIPCO’s board nods to capital increase through public share sale

Kuwait Projects Holding received approval from CMA to increase its capital by 29.3%

Panoramic view of Kuwait City, Kuwait. Image used for illustrative purpose

Panoramic view of Kuwait City, Kuwait. Image used for illustrative purpose

Getty Images/ Arjiel Justiniano / EyeEm

 Kuwait Projects Holding’s (KIPCO) board of directors has approved raising the company’s capital through public offering of 452.749 million shares for its shareholders registered in the company’s shareholder register on the record date, 26 June.

KIPCO’s board has set the offering period to begin on 27 June and end on 17 July at 1 p.m. Kuwaiti time, the company said in a statement to Boursa Kuwait on Thursday.

The offering price for the new issue share has been set at 210 fils a share which includes a nominal value of 100 fils per share as well as share premium of 110 fils apiece.

KIPCO previously revealed receiving approval from Kuwait's Capital Markets Authority (CMA) to increase its capital by 29.3%.

Source: Mubasher

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