According to the Kuwait Finance House, the number of “United Bahrain” shares that were ceded to “KFH” reached 10.84 billion shares, bringing the ratio in favor of the latter to 97.273%.
At the end of the initial offer period, the shareholders of AUB who did not submit the acceptance forms for the offer will be acquired using their compulsory acquisition share.
Kuwait Finance House announced, through a disclosure on the Kuwait Stock Exchange, that the first day of trading its new shares will be submitted to Thursday, October 6, 2022; Since Sunday 9 October is expected to be a public holiday; To celebrate the birthday of the Prophet.
The “Kuwait Finance House” had agreed last July to buy “Ahli United Bank” for about 11.6 billion dollars, a deal that has been in preparation for about 4 years, which would create the seventh largest bank in the Gulf with assets of 115 billion dollars.
After the completion of the entire acquisition process, KFH will become the second largest Islamic bank in the world in terms of assets, after Al-Rajhi Bank of Saudi Arabia, while KFH’s share in Kuwait will increase to 28 percent of local assets. In Bahrain, KFH will become the largest bank in terms of total assets.
#October #day #trading #KFH #share