Mubasher: Warba Capital Holding Co on Tuesday announced obtaining Kuwait’s Capital Markets Authority’s (CMA) approval to raise issued and paid-up capital by KWD 7.8 million to KWD 15 million from KWD 7.2 million.
The capital hike will be implemented by issuing 78 million ordinary shares at 100 fils a share, according to a statement to Boursa Kuwait.
In mid-February, the firm’s board nodded to increase the issued and paid-up capital by 108.3% to KWD 15 million from KWD 7.2 million.
Warba Capital Holding last reported losses of around KWD 544,000 during its second quarter ended on 31 January 2019, compared to nearly KWD 102,500 ($338,000) in the same period a year earlier.
It is noteworthy that the company’s shareholders approved on 10 January to amend its name from Boubyan International Industries Holding to become Warba Capital.
