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KAMCO acts issuance advisor for Burgan Bank's rights issue

KAMCO acts issuance advisor for Burgan Bank's rights issue
The value of subscribed shares stood at KWD 64.81 million
BURG
BURG
-0.96% 207.00 -2.00
KAMCO
KAMCO
1.19% 102.00 1.20

Mubasher: KAMCO Investment has been chosen to act as the sole issuance advisor and subscription agent for Burgan Bank’s recently completed capital increase.

The rights issue of Burgan Bank was well received and oversubscribed by the existing shareholders, with a total of 249.278 million shares subscribed, whereas total shares offered were 240.58 million indicating a subscription of 103.6%.

The value of subscribed shares stood at KWD 64.81 million, whereas the total value of the offered shares was KWD 62.55 million.

KAMCO is a leading investment company as one of the largest assets under management (AUMs) in the region.

Following this rights issue, Burgan Bank has raised its paid-up share capital from KWD 225.9 million to KWD 250.0 million, an increase of approximately 10.6% compared to the issued share capital prior to the capital increase.