Financial and Banking News
KFTCIC Posts $278mn Loss in 1985
Kuwait Foreign Trading, Contracting & Investment Company (KFTCIC) posteda KD81.9mn ($278mn) loss in 1985, and is receiving a KD57.75mn ($196mn) equityinjection, with the promise of not less than a further KD42.25mn over the nexttwo years. The Kuwait Investment Authority (KIA) owns more than 95% of KFTCIC'sequity and has already subscribed to 46.2mn new shares, at a 25% premium.
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