NBK says KWD137.6mn rights issue was oversubscribed by 301%
National Bank of Kuwait (NBK) announced on Thursday the results of its KWD137.6mn rights issue of 343.96 million shares at a price of KWD0.4 per share. The capital hike was oversubscribed by 301%. Existing shareholders took up rights to shares worth 94.99% of the issue, with the remaining shares to be allotted to investors wishing to buy extra shares. The rights issue ran between May 18 and June 16. (Reuters and company disclosure) National Bank of Kuwait: KWD0.59 as of 23 June, Rating: Buy, FV: KWD0.82/share, MCap: USD10,407mn, NBK KK / NBKK.KW
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