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Boubyan Bank starts subscription on remaining shares next May |
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Business News
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Sunday, 25 April 2010 00:17 |
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KUWAIT, April 24 (KUNA) -- Boubyan bank announced here Saturday that subscription on the shares remaining for increasing its capital is to start from May 2 and till the end of the working day of May 9, 2010
for all listed shareholders of the bank's records till January 21, 2010.
This measure is to be carried out following the approval of the bank's General Assembly that will be held next Thursday.
The subscription will be open to all shareholders in the remaining percentage which approximately amounts to 15 as the ministerial decree granted the bank three months to finalize the subscription process.
The bank's board had decided in a previous meeting to submit a recommendation to the upcoming General Assembly on restarting subscription in the remaining shares percentage after the Casuistry and Fatwa Department rejected to put it for sale in a public auction.
Consequently, it is expected for the Bank's General Assembly to pass the recommendation.
The subscription rate on increasing the bank's capital reached about 85 percent at an issue price of 255 fils for each share, namely the share's nominal value which is 100 fils besides issue bonus that includes the subscription fees. - Kuna
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