Kuwait's Securities House finalises legal procedures for merger with Al Aman

The Securities House is the merging company

Kuwait  -  The Securities House on Monday announced the completion of the legal procedures of its merger with Al Aman Investment, according to a statement to Boursa Kuwait.

Moreover, a share swap of 74.865 million shares of Al Aman’s capital, owned by shareholder aside from Securities House’s stake, was exchanged for 105 million shares of Securities House’s capital hike, that are exclusively allocated to the shareholders of the first.

The Securities House is the merging company, while Al Aman Investment is the merged. Accordingly, Securities House' shareholders' record has been amended, while Al Aman’s one was cancelled.

In addition, Securities House predicted that its assets and equity rights will increase at the value of Al Aman’s assets and liabilities, which will be transferred upon the merger completion at a value of KWD 10.23 million.

Earlier this month, Securities House declared its merger resolution with Al Aman.

Source: Mubasher

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