Middle East Economic Survey
Shareholders Approve Kuwait Energy Rights Issue
Kuwait Energys shareholders have approved company plans to launch an initial public offering (IPO) in nine months time. The companys authorized share capital is subsequently being increased to KD127mn ($448.56mn) from a current KD103.56mn ($365.78mn), in order to facilitate a rights issue of 198,323,540 shares at 155 fils/share to existing shareholders. The move will allow the...