Today, Wednesday, 2 August 2023, Al-Bareeq Holding Company began distributing bonus shares of 4% to its shareholders, as per the announcement posted on Kuwait Clearing Company’s website.
The company held its Extraordinary General Meeting (EGM) on 14 June 2023, during which the decision to increase its authorized and fully paid-up capital from KWD 43.7 million to KWD 45.4 million was approved, reflecting an increment of KWD 1,749,200 This capital increase was achieved through the issuance of 17,492,000 shares, representing 4% of the company's authorized and fully paid-up capital. The distribution of these new shares entailed allotting 4 shares for every 100 shares owned. The bonus shares are designated to be distributed among the company's shareholders registered in its records as of the maturity date. Each shareholder will receive a proportional allocation based on their existing holdings. The company also authorized the Board of Directors to manage the fractional shares resulting from this allocation.