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NBK share sale oversubscribed
- Kuwait: Sunday, December 30 - 2007 at 08:33
The National Bank of Kuwait (NBK) has revealed that its $1.5bn share sale, which ended on December 26, was 145% oversubscribed, reported Reuters. The NBK received subscriptions totalling $3.7bn from its existing shareholders. The 20% capital increase was sanctioned in September to help pay for its purchase of Egypt's Al Watany Bank alongside a 40% stake in Istanbul's Turkish Bank.
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Jonathan Sheikh-Miller, Deputy EditorSunday, December 30 - 2007 at 08:33 UAE local time (GMT+4)
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