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LOC14: 48
11:48 GMT
KUWAIT, July 27 (KUNA) – The Kuwaiti Investment Company (KAMCO) announced on Saturday that it acted as adviser to the issuer and guarantor for the capital increase of Kuwait Projects. Company Holding (KIPCO).
KAMCO said in a press release that the IPO had attracted the attention of existing shareholders with a total number of subscribed shares of 529.89 million ordinary shares, while the total number of shares offered rose to 452.57 million shares.
The total amount of subscriptions was 1,171 million Kuwaiti dinars (approximately $ 365.3 million), while the value of the shares offered amounted to 95.08 million KD. Approximately $ 312 million).
The IPO enabled Kipco to increase its capital from KD 154.7 million (approximately US $ 508 million) to KD 200 million (US $ 656.7 million) by issuing 452.75 million new ordinary shares representing , 3% of the issuer's capital. And the current payment of the company.
The KIPCO capital increase aims to strengthen the existing capital structure and support its long-term strategy to expand its activities in the financial services, media, insurance, banking and investment sectors. 39, industry and education.
According to the statement, Khaled Fouad, KAMCO's Chief Investment Officer, said: "I am proud of the company's role as sole issuer and agent for this transaction.
Fouad added that such operations reflected the desire to help customers achieve their strategic goals.
KAMCO Investment Company was established in 1998 and was listed on the Kuwait Stock Exchange in 2003. Its badets under management amount to approximately $ 13.8 billion and execute more than 141 bank transactions. total value of 20.4 billion USD. (End)
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