Mubasher: Boubyan Bank announced that the Central Bank of Kuwait (CBK) has approved for increasing the bank’s capital by 15.75%, according to a bourse statement on Wednesday.
Raising Boubyan Bank’s capital will be executed by issuing new shares for public subscription.
The issue premium will be valued at 250 fils to be added to the par value of 100 fils, therefore, the total value of the subscription will be 350 fils per share, Boubyan Bank added.
Boubyan Bank’s capital stands at KWD 238.85 million distributed on 2.39 billion shares at a nominal value of 100 fils each.
At the stock level, Boubyan Bank closed Wednesday’s session 0.9% higher at 581 fils.
