Alrai Media Group announced the launch of its share capital increase, pursuant to the resolution issued by the Extraordinary General Meeting (EGM) on 12 April 2022 to increase the Company’s authorized capital and to authorize the Board of Directors to call the capital increase and set the amount and method of the capital increase. In addition to the Board of Directors’ resolution issued on 21 June 2022 to increase the company’s issued and paid-up capital from KWD 10,349,381.100, distributed over 103,493,811 shares to KWD13,849,381.100 distributed over 138,493,811 ordinary shares equivalent to approximately 33.818% “stock offering” at an offer price of 100 fils/share, after receiving the regulatory approval from the Capital Markets Authority (CMA) in the State of Kuwait on this prospectus on 29 June 2022.
"Alrai Media" said that the company's shareholders who are registered in the shareholders' records as of 7 July 2022 (the record date) should follow the following guidelines:
Subscription Period: Starting as of and including Tuesday, 19 July 2022 and ending as of and including Tuesday, 2 August 2022, the subscription price is set at 100 fils per share, and the rights issue is for the shareholders whose names are registered in the shareholder register at Kuwait Clearing Company (KCC) on Thursday, 7 July 2022, or those who have obtained rights issue by assignment (Eligible Shareholders). All eligible shareholders may subscribe to additional shares in addition to the rights issue allocated to them.

Subscription 

Alrai Media Group stated that the subscription amounts will not be accepted in cash and will be as follows:
First: Subscriptions less than KWD 10,000:
A- Log on to (WWW.nic.com.kw/IPO). B- Enter the following personal data (Civil ID, registration number for legal persons, trading number, e-mail, phone and mobile numbers). C- Select to subscribe to the capital increase of Alrai Media Group K.S.C.C – D - State the number of shares to be subscribed for. E - Pay the subscription amount through (K-Net) service. F- Receive the subscription receipt via e-mail or phone.
Second: Subscriptions exceeding KWD 10,000: Follow the steps in paragraph (a) to (d) of item (1) above, then print the subscription application form. Subscribers shall visit their bank branch and submit a copy of the printed subscription application form and transfer the full subscription amount from their bank account (a bank transfer from a bank account not belonging to the subscriber will not be accepted) as a net amount excluding any subscription fees to (National Bank of Kuwait). The subscriber shall obtain an original deposit slip including the amount transferred from their bank account. Original deposit slip shall be uploaded to the website (WWW.nic.com.kw/ipo) or subscriber may visit National Investment Company’s headquarters to deliver the original deposit slip, confirming the bank transfer from his personal bank account, along with all subscription documents.
The company highlighted that in the event that any of the subscribers fails to submit a fully and properly completed subscription application (along with all required attachments) at the headquarters of the subscription manager and the underwriting agent after paying the subscription amount, the subscription request submitted by that subscriber will be considered canceled, after taking into account other reasons for refusing the subscription. The issuer, the subscription manager and the underwriting agent may reject the subscription application if the required amounts haven’t been paid in full and registered in the subscription account at the time of subscription.
To obtain a copy of the prospectus, Alrai Media Group advised its shareholders to visit the issuers website (www.alraimedia.com), and the subscription manager and underwriter’s website at (www.nic.com.kw).