Kuwait Projects Company Holding (KIPCO) announced the approval of the Kuwait Capital Markets Authority on the prospectus for the company's capital increase.

In a statement to the Kuwait Stock Exchange, today, Thursday, KEPCO said that the authority agreed to increase the company's capital to 264 million dinars, divided into 2.64 billion shares.

The increase amounted to 64 million dinars, equivalent to 640 million new shares, at an offering price set at 125 fils per share, including 100 fils for the nominal value of the share, plus 25 fils as a premium. version.

The company also announced the timetable for the entitlements of shares for that increase, the trading of priority rights and the subscription period.

KIPCO announced in early September that the company had obtained the approval of the Capital Markets Authority to increase the company's issued and paid-in capital.

KIPCO said that the authority agreed to increase the issued and paid-in capital from 200 million dinars to 264 million dinars, an increase of 32%.

KIPCO's profit fell 65% in the first half of this year; To reach 3.197 million dinars, compared to profits of 9.219 million dinars for the same period in 2020.