Jazeera Airways launches rights issue
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Jazeera Airways Group announced that its rights issue of 178 million shares will launch today 17 December, to raise the company’s capital by 74% to KD42mn.
Shares are available to existing shareholders, and at a nominal value of 100 Kuwaiti fils.
Existing shareholders who wish to subscribe are invited to visit Kuwait Clearing Company. An Emiree decree was issued earlier in August, approving of the company’s decision to raise its capital to KD42m through a rights issue to existing shareholders. Customary ministerial process was finalized beginning of the month and an official announcement was made in Kuwait’s official gazette (Kuwait Al Youm).
Last month, Jazeera Airways announced a record Q3 net profit of KD7.6m, up 24.6% from the same period last year, as well as results for the year of KD11.4m, up 23.6% from same period last year.