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KUWAIT: KIPCO Kuwait Holding Company (KIPCO) announced the placement of shares of the capital increase to shareholders on Monday, as well as the return of the subscription surplus by a bank transfer to subscribers.
The company said Sunday in a statement to the Kuwait Stock Exchange that the financial impact of this information had the effect of increasing the number of shares of the company's capital to 452.75 million euros. 39, shares, which will represent the value of additional funds for the company worth 95.08 million dinars.
The total number of shares subscribed reached 529.89 million ordinary shares, while the total number of shares offered rose to 452.75 million shares, which which led to a subscription coverage of 1.17 times..
A statement from KAMCO Investment Company – the Issuing Advisor and the Subscriber – indicated that the bid price was 210 per share, with the total value of the subscribed shares rising to 111.28 million KD per share. compared to the value of the offered shares of KD 95.08 million..
The IPO resulted in KIPCO's capital increase from KD 154.73 million to KD 200 million through the issuance of 452.75 million new ordinary shares, representing approximately 29.3% of KIPCO's share capital. capital issued and released from KIPCO..
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..
Al-Fotouh Holding Company is KIPCO's largest shareholder with 44.63%, followed by United American Holding Company and Al-Wingah Holding with a 20.33% share..
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