Kuwait – Mubasher: Independent Petroleum Group (IPG) said that the subscription period for raising its capital by KWD 3.62 million has ended.

IPG offered 36.16 million shares for subscription to raise the capital to KWD 18.84 million from KWD 15.225 million, according to a bourse statement issued on Wednesday.

The shareholders’ equity increased due to an issue premium of KWD 7.23 million, IPG said, noting that its impact will be registered in the financial statements of the period ending 30 June 2017.