No. 10



KIPCO Builds Stakes In Burgan And Al-Ahli Banks

As MEES went to press, speculation was mounting that the long-awaited rationalization of the Kuwaiti banking sector might at last be coming to a head. The Kuwait Investment Projects Company (KIPCO), in which the Kuwaiti Government has a 17% holding, said on 29 November that it had bought 60mn shares in Burgan Bank for KD12.3mn, thus raising its stake in the bank from 4% to 12%. The price of 205 fils...