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National International Holding EGM approves KWD 23m capital hike

National International Holding EGM approves KWD 23m capital hike
The capital rise will by through issuing 10.843 million bonus shares
NIH
NIH
-0.58% 68.00 -0.40

Mubasher: The extraordinary general meeting (EGM) of National International Holding Company has approved to raise the authorised, issued, and paid-up capital from KWD 21.687 million to KWD 22.772 million.

The capital rise will by through issuing 10.843 million new shares to be distributed as bonus shares to the company's shareholders with the entitlement day set on 15 July, according to the company's disclosure to Boursa Kuwait on Sunday.

The capital increase will be financed from the company's retained earnings.

It is noteworthy to mention that on 21 June, the ordinary general meeting (OGM) approved distributing bonus shares, equivalent to 5% of the issued and paid-up capital, for fiscal year (FY) 2019.

The company is dually listed on Boursa Kuwait and the Dubai Financial Market (DFM).