Kuwait Financing to Sell Rights Shares to Increase Capital to $185 Million

Shareholders of Kuwait Finance & Investment Co., an investment and asset management firm, approved plans to sell rights shares to raise its capital to 54.15 million dinars.

The company will first reduce its capital to 34.15 million dinars from 41.9 million dinars to absorb accumulated losses, and then offer the rights shares to raise the capital, according to the plan approved in Kuwait City today.

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

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