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Zima Holding nods to 250% capital hike

Zima Holding nods to 250% capital hike
Zima’s profits jumped to nearly KWD 892,230 in FY16
JIYAD
JIYAD
-0.55% 18.20 -0.10

Kuwait – Mubasher: The ordinary general meeting (OGM) of Zima Holding approved modifying the company’s name as well as listing Zima in stock markets outside Kuwait with a maximum participation of 40% of capital, according to a bourse filing issued on Tuesday.

The company’s shareholders also approved raising the capital by 250% or 250 million shares to total KWD 35 million from KWD 10 million.

It is noteworthy that Zima’s profits jumped to nearly KWD 892,230 during fiscal year 2016, compared with around KWD 79,710 in FY15.