National Bank of Kuwait gets regulatory nod for capital raise

Dubai: National Bank of Kuwait said on Sunday it had received approval from the country’s Capital Markets Authority for its proposed capital increase.

In March, the bank said the board of directors had agreed to raise the bank’s capital by 6.5 percent through a rights issue involving issuing 343.96 million shares at 0.4 dinars ($1.3) per share.

The rights issue will be worth 137.58 million dinars ($455.64 million), according to Thomson Reuters calculations.