VOL.XL No. 2019-May-1997


BKMEWill Sell 49% Of Subsidiary

The Bank of Kuwait and the Middle East (BKME) announced on 13 May that it willsell 49% of its fully-owned subsidiary Kuwait and the Middle East FinancialInvestment Company. Of the total shares earmarked for sale, 5% will be sold tocompany staff and two stakes of 47.5% each will be offered, one by subscriptionto existing shareholders and one by public auction. The sale is expected toraise KD10-12mn ($33-40mn) for the 58%...