Latest News
- Robot Begins Operations At Al-Zour Refinery
- Woman Gets 5 Years Jail For Assaulting An Old Lady
- Kuwaiti Suffered A Cardiac Arrest In A 7-vehicle Collision
- Accused Kuwait Police Officers Arrested Over Teen Abuse Scandal
- Egyptian Gets 7 Years For KD29,000 Kuwait Towers Ticket Fraud
- Kuwait Revises Overseas Recruitment
- 22,897 Kuwaiti Citizens And Expats Are Banned From Traveling
- Kuwait Is An Emerging Tourism Powerhouse
- A Total Of 41 Centers Will Provide Vaccinations And Hajj Instruc...
- New Employer File Opening Service Launched By PAM Via Sahel Busi...
- Issuing Work Permits Based On Academic Certificates And Experien...
- Annual Evaluations Completed For 14,000 Ministry Of Public Works...
Upac Completes Capital Increase Process – Ceo
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, announced that the subscription period for raising its capital has ended successfully. The company has increased its issued and paid-up capital by KD 3,275,000 divided into 32,750,000 ordinary shares, with a total value of KD 18,012,500 including the issuance premium. The subscription period closed on 14-February-2019, and impact of the capital increase will be reflected in the financial statements for the period ending on 31-March-2019.
Nadia Akil, Chief Executive Officer – UPAC, said: “This is the second successful capital increase process UPAC has completed, a positive reflection of shareholder confidence in the company and its plans. The capital increase is equivalent to an increase of approximately 25% of the current issued and paid up capital, which will facilitate funding of our operations and to invest in new ventures, particularly Reem Mall in Abu Dhabi.” Akil added, “I would also like to take this opportunity to thank our loyal shareholders for their trust in UPAC, who have made this subscription a success. We also recognize the Capital Markets Authority’s crucial role and appreciate their support during the entire process.”
Trending News
-
The Ministry Connects With Violators Of Residency...
23 April 2024
-
AstraZeneca Admits Covid Vaccine Can Cause Rare Si...
29 April 2024
-
Work Permits Will Be Issued For One Year Under The...
27 April 2024
-
3 Expats Caught In Salmiya With 213 Bottles Of Loc...
23 April 2024
-
Kuwait Unveils Monumental Solar Energy Project For...
06 May 2024
-
Al-Nuer Festival Celebrates Kuwaiti Agriculture Wi...
22 April 2024
-
Peak-time 'cut-offs' Raise Fears Of An Electricity...
22 April 2024
-
Gulf Electrical Interconnection Project Will Boost...
04 May 2024
-
Road Trip From Kuwait To Bahrain Via Saudi: Travel...
22 April 2024
-
Kuwait Banks Seek Clarity From Central Bank On Cit...
04 May 2024
Comments Post Comment