KACCO's capital increased to 15 million dinars and new activities added
The Official Gazette, “Kuwait Today,” published the minutes of the Extraordinary General Assembly meeting of the Kuwait Aviation Services Company (KASCO), detailing landmark decisions regarding capital increase, expansion of operational scope, and the company’s commercial objectives.
Details of the capital increase and bonus shares
The General Assembly approved the Board of Directors’ proposal to raise the authorized, issued, and paid-up capital from 4.4 million Kuwaiti dinars to 15 million dinars, representing a total increase of 10.6 million dinars, equivalent to 241% of the existing capital. This increase was effected by issuing 106,040,000 cash shares with a nominal value of 100 fils per share, fully deducted from the retained earnings balance as of December 31, 2025, and distributed to shareholders registered in the company’s records as of the meeting date (with the Board of Directors authorized to handle fractional shares). Consequently, the company’s total shares increased from 44 million to 150,040,000 shares. Accordingly, Article 6 of the Memorandum of Association and Article 5 of the Articles of Association were amended.
As part of updating the company’s international activity codes, the General Assembly approved amendments to Article 5 of the Memorandum of Association and Article 4 of the Articles of Association. The company retained its core operational activities, including catering services, aircraft catering supply, ground handling at airports, management of air cargo warehouses, and international air cargo agency services.
The company’s total activities were expanded to 35 activities following the approval of several new objectives, including: acquiring the real estate and movable assets necessary for the company’s benefit; buying and selling land and real estate exclusively on behalf of the company; managing and leasing residential properties owned or leased by the company; providing worker housing; and operating the central laundry.
Additionally, the company is authorized to establish independent companies or participate with others in companies to carry out work serving the company’s objectives.
