VOL. XLII

No. 10

8-March-1999

KUWAIT

KIA Sells Shares Worth Over $100Mn In KIC

The Kuwait Investment Authority (KIA) announced on 3 Marchits intention to sell 200 million shares in Kuwait Investment Company (KIC)through public subscription commencing on March 14 and closing on April 6. The200 million shares, which account for 40% of issued capital, will be sold at160 fils each ($0.53), bringing the total floatation value to KD32mn ($105mn).Last September KIA sold 125 million shares in KIC at a...