Mubasher: Amwal International Investment said that it is expected for the UAE-based Shuaa Capital to own about 87.22% of the issued and paid-up capital of Amwal when the acquisition is completed.
As Kuwait’s Capital Markets Authority (CMA) approved Shuaa’s takeover of Amwal, the final number of shares offered by Amwal’s shareholders is 128.03 million shares or 70.9% of the issued and paid-up capital, based on the acquisition proposal by Shuaa, according to a bourse disclosure on Thursday.
Late July, Kuwait’s CMA approved the voluntary acquisition proposal by Shuaa to acquire Amwal.
It is noteworthy that Amwal’s stock is currently trading at nearly 64 fils.
