Kuwait's Gulf Stainless Steel Factory plans to raise its capital, which now stand at KD 1.25 million, as first step to enlist its stocks at the Kuwait Stock Exchange (KSE), the factory's Director General Sami Al-Amer said Monday.
Speaking to KUNA, Al-Amer said, "Raising the factory's capital will occur through the introduction of new partners whether local, Arab or foreign companies who have experience in the stainless steel business."
Demand on stainless steel products are expected to rise in the coming period therefore, the increase of capital and the expansion of operations are steps that have to be taken to meet those demands, he said. (menareport.com)
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