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Kuwait Tasks Firm (Holding) has obtained the Capital Markets Authority’s approval on the prospectus to challenge and market bonds denominated in Kuwaiti dinar in two tranches (fastened and floating), with a maturity of six years from the issuance date.
The proceeds can be used for normal company functions, the corporate, also referred to as KIPCO, stated on Thursday in a regulatory submitting on the Kuwait Inventory Alternate, the place its inventory trades.
Kamco Funding Firm and Gulf Financial institution Ok.S.C.P. will act because the joint lead managers and subscription brokers for the issuance.
The corporate didn’t disclose the worth or timetable for the issuance.
KIPCO’s board of administrators has already accredited the issuance final month, the funding firm added.
KIPCO posted a internet revenue of KWD 0.5 million ($1.6 million) for the third quarter of 2022, down from KWD 23.9 million within the 12 months in the past interval. Earnings per share got here in at 1 fils.
(Writing by Brinda Darasha; enhancing by Cleofe Maceda)
brinda.darasha@lseg.com
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