'Al Ahli' Ready for IPO with 27.29% Increase in Issued and Paid Capital

Kuwait National Bank (Al Ahli) announced its readiness to launch the subscription process for a capital increase, following the receipt of all necessary regulatory approvals and the completion of required preparations. The process will involve the issuance of 750 million shares, representing a 27.29% increase in the bank’s issued and paid-up capital.

The subscription comes as the bank finalizes its new five-year strategy for the period 2027–2031. The subscription will be available to shareholders registered in the bank’s shareholder register as of the record date, Wednesday, November 4, 2026. The subscription period will begin today, Sunday, November 8, and end on Sunday, November 22, at 1:00 PM Kuwait time.

The prospectus and all information related to the offering and subscription are available on the websites of Al Ahli, ABK Wealth Management, and the Kuwait Stock Exchange. Subscription requests will be submitted through the company’s online subscription platform, www.ipo.com.kw, operated by the Kuwait Clearing Company, during the subscription period. Al Ahli has appointed ABK Wealth Management as the manager of the offering and the subscription agent.

Commenting on the occasion, Talal Bahbahani, Chairman of the Board of Directors of Al Ahli Group, stated, “The capital increase will strengthen our ability to support our ambitious new five-year strategy and implement the associated growth plans, while maintaining adequate capital margins.”

Bahbahani added that this step coincides with the strong financial performance the bank has achieved in recent periods, noting that positive results and continuous growth reflect the resilience and high flexibility of the Kuwait National Bank Group’s business model in dealing with market fluctuations.

He explained that the proceeds from the subscription will support the bank’s strategy to enhance its digital capabilities and invest in technical infrastructure, as well as strengthen artificial intelligence applications, ensuring an exceptional and seamless banking experience for customers. Additionally, the funds will help expand the bank’s commercial banking activities in the markets where it operates. The capital increase will also reinforce Al Ahli’s position as a key partner in supporting the local economy.

Bahbahani anticipated strong investor interest in the subscription for Al Ahli’s capital increase shares, citing the high level of confidence the bank enjoys among investors, shareholders, and customers. He emphasized the bank’s constant commitment to maximizing shareholder value.

This confidence was also reflected in Al Ahli’s previous capital increase in 2023, which attracted subscriptions totaling KWD 331.37 million, exceeding the offering value of KWD 100 million by a coverage ratio of 3.3 times.

He also praised the continuous support Al Ahli receives from local regulatory authorities, including the Central Bank of Kuwait, the Capital Markets Authority, the Kuwait Stock Exchange, and the Ministry of Commerce and Industry.

Al Ahli reported net profits of KWD 54.2 million during the first nine months of 2026, representing a 16.2% increase compared to the same period last year. Earnings per share reached 17.6 fils, compared to 15 fils.