Mubasher: Boubyan Bank received the Capital Markets Authority’s (CMA) approval for increasing its capital by 15.75%.

The bank will raise the capital through 376.2 million shares at a total value of KWD 37.62 million at a par value of 100 fils each.

Boubyan Bank noted that the capital hike aims at boosting the regulatory capital of the bank.

It is noteworthy that the current capital of Boubyan Bank totals KWD 238.85 million distributed on nearly 2.39 billion shares at a par value of 100 fils each.

The National Bank of Kuwait (NBK) group owns a stake of 59.15% in Boubyan Bank, while the Commercial Bank of Kuwait (CBK) owns an equity of 11.2%.