Mubasher: The Capital Markets Authority (CMA) of Kuwait approved for Kuwait Projects Holding (KIPCO) to increase its issued and paid-up capital by 29.3% of the current issued capital.

KIPCO will raise its capital to KWD 200 million from KWD 154.72 million, according to a bourse disclosure on Monday.

The company will issue 452.75 million shares for subscription to the shareholders registered in KIPCO’s records.

KIPCO will also appoint KAMCO Investment as an issuance advisor and subscription agent of the capital hike process.

In end January 2019, KIPCO’s board approved to increase the capital to KWD 200.

At the stock level, the company closed Monday’s session 0.51% higher at 196 fils.