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Warba Bank to list on KSE tomorrow

Kuwaiti Islamic lender Warba Bank is set to be listed on Gulf the country's stock exchange on September 3, after a restriction on public trading of the stock ended, Reuters has reported, citing an industry source familiar with the matter. A majority of the shares in the lender, set up with a capital of KD100m ($351m), were gifted to Kuwaiti nationals as part of the state's wealth sharing, with each citizen receiving 684 shares. The remaining 24% of Warba Bank is owned by the sovereign wealth fund Kuwait Investment Authority. The listing does not include sale of any new shares in the bank.