CBK, in this latest move, sold 22 million BBK shares (3.44% of its existing shares to Securities Group in Kuwait), and bought out the shares of the following existing shareholders: Al Ahli Bank of Kuwait (6.75% of total shares), Kuwait Finance Investment Co. (6.37% of total shares) and Kuwait Investment Company (3.73% of total shares). This makes CBK the single largest shareholder in BBK.
The current shareholder breakdown, after these transactions, will be as follows: CBK (20.17%), Bahraini citizens and others (20.02%), Pension Fund Commission (18.80%), General Organization for Social Insurance (13.39%), Bank of Kuwait and Middle East (6.75%), Kuwait Investment Projects Co (5.18%), Securities Group (3.44%), Kuwait Investment Authority (3.75%), Pearl of Kuwait Real Estate Co. (3.25%), United National Holding Co (3.25%) and Kuwait International Investment Co (2%).
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CBK increases its stake in BBK
- Bahrain: Thursday, May 25 - 2006 at 10:12
- PRESS RELEASE
Commercial Bank of Kuwait (CBK), which is an existing shareholder in BBK, has increased its stake in BBK from 6.75 per cent to 20.17 per cent, for a total of 129,123,237 shares, as of 22 May 2006.
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Log in to request more information from Bank of Bahrain & Kuwait (BBK)
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, May 25 - 2006 at 10:12 UAE local time (GMT+4)
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This article was updated on Tue Sep 04 2007.
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