Mubasher: The board of The Securities House approved to submit a recommendation to the ordinary general meeting (OGM) to increase the firm’s authorised, issued, and paid-up capital by issuing 105 million new shares.          

The new capital will amount to KWD 55.5 million distributed on 555 million shares, according to a bourse filing on Thursday.  

The number of the new issued authorised shares was determined as per the asset valuation report prepared by the independent asset assessor and according to the exchange rate submitted by the independent investment advisor.         

The new shares will be allocated to the shareholders of Al Aman Investment.

Securities House noted there will be no material impact on the company’s financial position in the present time.