Mubasher: The board members of Warba Capital Holding Co approved increasing the issued and paid-up capital by 108.3% to KWD 15 million from KWD 7.2 million.

Warba Capital said that the capital hike will be executed by issuing 78 ordinary shares at a price of 100 fils each inclusive the 100 fils par value, according to a bourse disclosure on Thursday.

Raising the capital aims at financing Warba Capital’s future business in addition to investing in new projects and boosting operating capital.

At the stock level, Warba Capital closed Thursday’s session 0.7% higher at 71.9 fils.

On 7 February, Boursa Kuwait announced that trading on the stock of Warba Capital has resumed.

On 10 January, the shareholders of the company agreed to change the name from Boubyan International Industries Holding to become Warba Capital.