Mubasher: The Capital Markets Authority (CMA) of Kuwait approved the prospectus of Ajwan Gulf Real Estate’s rights issue.

Ajwan will increase the capital by KWD 13.66 million to KWD 21 million from KWD 7.34 million, according to a bourse statement issued on Sunday.

This 136.62 million-share raise accounts for 186.17% of capital, with a par value of 100 fils per share.

At the stock level, Ajwan closed Sunday’s session 6.15% higher at 69 fils, after about 550,000 shares were traded through nearly KWD 37,950.