National Bank of Kuwait’s (NBK) chairman, Mr. Mohamed Abdel Rahman Al Baher said that the subscription in the bank’s 10% capital increase is expected by the end of October 2006 after completing all the official procedures with the concerned authorities. “The method of the subscription will be announced shortly to all our shareholders to make the process as easy as possible”, added Al Bahar.
NBK’s Annual General Assembly meeting dated 18 February 2006 approved the 10% increase in the bank’s capital through a rights issue to be offered at a premium of one Kuwaiti Dinar per new share issued, over and above the par value of 100 fils per share.
