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KAMCO finalises merger with Global Investment House

KAMCO finalises merger with Global Investment House
KAMCO is the merging company
KAMCO
KAMCO
1.19% 102.00 1.20

Mubasher: KAMCO Investment on Thursday announced the finalisation of the merger with Global Investment House, according to the company’s Boursa Kuwait disclosure.

The merger was implemented through exchanging 138.878 million Global capital shares, excluding those already held by KAMCO, for 104.884 million KAMCO capital-raising shares, the statement revealed.

This implied 0.75522821 KAMCO share for each Global share.

Under the merger agreement, KAMCO is the merging company and Global Investment House is the merged company.

KAMCO’s shareholder register was adjusted to reflect the count of capital-raising shares, the company said.

The merger will be mirrored in the consolidated financial results of KAMCO, which will also include Global Investment House’s results, with no change in the former’s assets and liabilities.

KAMCO’s capital will rise by KWD 10.488 million, while its authorised, issued and paid-in capital will come in at KWD 34.233 million.