Mubasher: Arzan Capital Holding Limited, a 100%-owned subsidiary of Arzan Financial Group for Financing and Investment, plans to increase its capital by $6.8 million (KWD 2.07 million).

This capital hike will result in shrinking Arzan Capital’s ownership in Arzan Group to become 87.8% instead of 100%, according to a bourse statement on Tuesday.

It is noteworthy that Arzan achieved an increase of 159% in profits to KWD 1.74 million in fiscal year 2017, compared to nearly KWD 671,420 in the prior year.