Mubasher: Sultan Center Food received the approval of Kuwait’s Capital Markets Authority (CMA) to issue convertible bonds at a value not exceeding KWD 15 million that can be transferred into shares in the firm’s capital.

These bonds will be offered only to professional clients, as Sultan Center Food and Kuwait Clearance Company shall not transfer the ownership of such bonds to other parties, according to a disclosure to Boursa Kuwait on Monday.

In this regard, Sultan Center Food will issue a related-prospectus.

Sultan Center Food highlighted that there is no major impact on its financial position.