Mubasher: Kuwait's Capital Markets Authority (CMA) approved raising the capital of United Projects for Aviation Services Company (UPAC) by KWD 3.175 million through the issuance of 31.75 million shares.
UPAC will increase the capital to KWD 13.175 million from KWD 10 million, according to a bourse statement issued on Thursday.
The rights issue will be at a nominal value of 100 fils per share, with an issue premium of 530 fils each.
It is noteworthy that the shareholders of UPAC approved, late September 2016, raising the capital to KWD 38.25 million.
