Kuwaiti Islamic bank starts rights issue

Posted by 7Star Monday, January 25, 2010

Kuwaiti Islamic lender Boubyan Bank on Sunday started a major rights issue aimed at raising its capital by 50 percent, the bank said. In a statement on the Kuwait Stock Exchange website, the bank said the share price in the rights issue will be at a nominal value of 100 fils (0.35 dollars) in addition to a premium of 155 fils (0.54 dollars).

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