Kuwait-Mubasher: National Bank of Kuwait’s (NBK) board decided on Saturday to commence the subscription period of its capital hike on Wednesday, 18 May, the bank said in a statement.
NBK plans on increasing the capital by 6.5% through a rights issue which will close on 16 June, 2016.
The issue price will stand at KWD 400 fils, with a nominal value of 100 fil per share, in addition to a premium issue of 300 fils, NBK clarified.
After the capital raise process is complete, NBK’s issued and paid-up capital will reach KWD 563.57 million which will be distributed on about 6.64 billion shares.
NBK ended Sunday’s session at 660 fils, as trading value reached KWD 2.5 million.
