Damascus-SANA
The Board of Commissioners of the Syrian Securities and Financial Markets Authority issued Resolution No. 148 m containing the final approval to increase the capital of the Syrian Kuwaiti Insurance Company to one billion and 250 million Syrian pounds.
The decision, a copy of which was received by SANA, allowed the aforementioned company to issue one million and 875 thousand shares with a nominal value of one hundred pounds per share and a total value of 187 million and 500 thousand pounds in order to increase the company’s capital by including part of its retained earnings, so that the capital after the implementation of the issuance would be one billion and 250 million pounds .
This decision comes in accordance with what was stated in it based on the decision of the Ministry of Internal Trade and Consumer Protection, which includes the ratification of the amendment of the articles of association of the Syrian Kuwaiti Insurance Company with regard to the capital increase and the approval of the extraordinary general assembly of the company on that and the decision of the Board of Commissioners to approve the capital increase shares.
