Kuwait – Mubasher: Al Imtiaz Investment Group raised its stake in its associate Al Ritaj Holding to 92.47% from 91.65%, according to a bourse filing on Tuesday.
The associate’s extraordinary general meeting (EGM) agreed on raising capital by KWD 3.53 million to KWD 20.17 million from KWD 16.64 million, so that the increase will be allocated for the debit account.
The company is still obtaining the necessary official approvals for the capital hike. The financial impact will appear in the third quarter of 2016, the statement said.
