Kuwait – Mubasher: The ordinary general meeting (OGM) of United Projects Company for Aviation Services (UPAC) approved distributing 21.21% of capital as bonus shares for fiscal year 2016.
UPAC will distribute a total of 17.5 million shares at a value estimated at KWD 1.75 million, according to a bourse statement issued on Sunday.
It is noteworthy that in mid-March, the board members recommended raising the capital to KWD 10 million from KWD 8.25 million through distributing 21.21% bonus shares.
During FY16, UPAC achieved a profit of KWD 8.4 million, compared with KWD 6.75 million in FY15.
