NBK’s 10% capital increase expected in the second half of 2010
The Chief Executive Officer of the National Bank of Kuwait - Kuwait, Isam Jasem Al Sager said that the call for subscription for NBK's capital increase will be announced immediately after the issuance of the Amiri Decree promulgating approval of the capital increase which is expected to be realized during the second half of this year (2010).
"The increase represents 10% of the Bank's paid capital after adding the bonus shares that have been recently distributed as per the decision of the Bank's extraordinary annual general meeting", Al Sager added.
The subscription will be effectuated through a rights issue to be offered for shareholders following the issuance of the Amiri Decree promulgating approval of the capital increase at a nominal value of 100 fils and a premium of 400 fils per share.
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