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NBK $1.5bn share sale
- Kuwait: Monday, December 10 - 2007 at 08:58
The National Bank of Kuwait (NBK) plans to generate $1.5bn by selling shares to existing investors to help finance its acquisitions, reported Reuters. The sale will commence tomorrow, Tuesday, and will close on December 26. The lender's shareholders gave the green light to a capital increase in September to support the purchase of Egypt's Al Watany Bank and a 40% stake in Istanbul's Turkish Bank.
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Jonathan Sheikh-Miller, Deputy EditorMonday, December 10 - 2007 at 08:58 UAE local time (GMT+4)
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