Burgan Bank announced that subscribing for the shares to increase its capital has been closed on Wednesday, 10 October.
The bank said that the rights issue has been fully subscribed, according to a bourse disclosure on Wednesday.
The financial impact of Burgan Bank’s rights issue will be a capital hike in addition to endorsing the regulatory capital ratio (CAR).
Burgan Bank added that this capital increase represents additional funding of KWD 62.55 million to the bank.
The subscribed shares reached a total of 249.28 million at a value of KWD 64.81 million.
At the stock level, Burgan Bank closed Wednesday’s session 1.5% higher at 276 fils.