Mubasher: Warba Bank has announced on Monday that the procedures for raising its capital were subscribed 205.8%, Al Anbaa Newspaper reported.
The rights issue value stood at KWD 185.2 million and was closed on 9 December 2018 after 500 million shares were covered at a value of 180 fils each of which 100 fils as par value and 80 fils as issue premium, Al Anbaa Newspaper added.
The CEO of Warba Bank confirmed that the capital increase will build a solid base to boost the bank’s expansion plans.
It is noteworthy that Warba Bank has a capital of KWD 150 million distributed on 1.5 billion shares at a nominal value of 100 fils each.
