Burqan Increases Its Capital Through Pre-emptive Rights to Bolster the Upcoming Growth Phase

Bank of Kuwait (Bourkan) has initiated the procedures for its planned capital increase of up to 50 million Kuwaiti dinars through the issuance of rights shares. The subscription period opened on August 31, 2026, and will remain open until 1:00 PM (Kuwait time) on Monday, September 14, 2026. This step aims to strengthen the bank’s capital base and enhance its financial resilience to support the next phase of its growth strategy. The new capital will underpin the bank’s strategic pillars, which include strengthening its operations in Kuwait, rebalancing its asset portfolio, and keeping pace with digital transformation, while continuing to invest in its core businesses and seizing well-structured growth opportunities within rigorous risk and capital management frameworks.

Eligible shareholders registered in the bank’s records as of the record date (August 30, 2026), along with rights holders, are entitled to participate in the subscription in accordance with the terms and conditions outlined in the prospectus and the subscription application form.

The proposed issuance involves offering 277.77 million new shares at a subscription price of 180 fils per share, comprising a par value of 100 fils and an issue premium of 80 fils per share. Eligible shareholders are entitled to subscribe for shares equivalent to approximately 7.10% of their current shareholding, subject to the terms and conditions specified in the prospectus and the subscription application form. Upon completion of the proposed issuance, the bank’s issued and paid-up capital will increase by approximately 27.78 million Kuwaiti dinars, with the issue premium amounting to approximately 22.22 million Kuwaiti dinars, bringing total subscription proceeds to nearly 50 million Kuwaiti dinars.

Sheikh Abdullah Nasser Al-Sabah, Chairman of the Board of Directors of Bank of Kuwait (Bourkan), stated: “Shareholders’ participation in the bank’s capital increase represents a renewed partnership in its future journey, reflecting the importance of aligning growth ambitions with long-term investor interests. We have ensured that the rights issue process provides eligible shareholders with the opportunity to maintain their ownership stake in the bank and contribute to its next phase of development.”

For his part, Tony Dagher, Chief Executive Officer of Bank of Kuwait (Bourkan), said: “The capital increase is a proactive step that will consolidate our ability to execute our strategy from a position of financial strength. It affords us greater flexibility to invest in our core activities, continue advancing our strategic priorities, and selectively seize promising opportunities, thereby supporting our long-term sustainable growth trajectory.”