KMEFIC offers 70 percent of subsidiary capital to public subscription

Published February 24th, 2004 - 02:00 GMT

The Kuwait and Middle East Financial Investment Company (KMEFIC) plans to make available 70 percent of the capital in one of its subsidiaries to for public subscription, reported KSE. The 70 million share offering will open on February 29 and will close on March 31. 


KMEFIC was founded in 1984 by the Bank of Kuwait and the Middle East (BKME) and the Public Institute for Social Security. Three years later, BKME acquired KMEFIC in its entirety. In 1997, BKME sold a portion of its interest and KMEFIC was listed on the Kuwait Stock Exchange. — (  

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