Kuwait’s Burgan Bank said it has received approval from the Central Bank of Kuwait to increase shareholder equity by KWD50 million ($162 million) through a rights issue. Moreover, the move supports the bank’s capital strengthening plans as it advances regulatory and market approvals.
Offer details pending capital markets approval
The bank said it will now seek approval from the Capital Markets Authority before proceeding with the issuance. Additionally, it noted that the offer price for the rights issue will be disclosed after the regulator grants clearance.
As a result, the transaction remains subject to further regulatory review before final terms are confirmed.
