Kuwait Real Estate Company announced that the Capital Markets Authority has approved a 15% capital increase for the company through the issuance of 159.6 million shares, valued at 15.9 million Kuwaiti dinars (approximately 48.4 million US dollars).

In a disclosure published on the Kuwait Stock Exchange website on Sunday, (Kuwait Real Estate Company) stated that its capital will increase from 106.4 million dinars (approximately 324.5 million dollars) to 122.4 million dinars (approximately 373.3 million dollars).

The company added that the new shares will be offered at a value of 100 fils per share, plus the issuance premium, with subscription priority rights for shareholders. The financial impact will be disclosed upon completion of the procedures with the relevant authorities.

(Kuwait Real Estate Company) was established in 1972 and listed on the Kuwait Stock Exchange in 1984. It engages in real estate activities, including buying, selling, and leasing land and properties, constructing buildings, investing in shares of similar projects, and managed investment portfolios overseen by specialized managers.