Kuwait's NBK shareholders get stake sale offer

At least 2 shareholders of Kuwait's biggest lender have got offers to sell a 10% stake.
Kuwait's NBK shareholders get stake sale offer
STAKE SALE: In March, NBKs shareholders approved a 10 percent capital increase through a rights issue to fund expansion.(ITP Images)
By Eman Goma
Thu 19 Aug 2010 01:12 PM

At least two shareholders of National Bank of Kuwait, the country's biggest lender, have received offers to sell a 10 percent stake in the bank, a newspaper reported on Thursday.

"(An investor) met with two of NBK's major shareholders ... and requested to buy a 10 percent stake in the lender at a price of up to 1.7 dinars ($5.91) per share," Kuwaiti daily al-Qabas said in an unsourced report.

The bank's shares were up 3 percent to 1.32 dinars at 0913 GMT.

"NBK has not been reached or contacted by any party. We have no details or information on this issue," NBK's spokesman said.

In March, NBK's shareholders approved a 10 percent capital increase through a rights issue to fund expansion. ($1=KD0.2877) (Reuters)

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