Coverage of the capital increase of 102.7% for the capital increase of Kuwait “KIPCO”

Kuwait Projects Company (KIPCO) has announced the end of the subscription of an 80 million dinar ($ 264.96 million) capital increase.

The company stated in a statement to the Kuwait Stock Exchange today, Sunday, that the offer was covered by 102.7% and the value of the request was 82.12 million dinars (271.98 million dollars).

The company specified that the fully subscribed shares amount to 587.55 million shares, with a coverage rate of 91.8%, and the additional shares subscribed are equal to 69.438 million shares, with a coverage rate of 10 , 85%.

KIPCO reported that the total shares awarded amounted to 640 million shares.

The company has indicated that the subscription shares will be deposited in the capital increase and the subscription surpluses will be transferred to the bank accounts of the company’s shareholders within 5 business days.

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