KUWAIT: KASCO raises its capital by 241%
KUWAIT CITY, Kuwait
- Kuwait Aviation Services Company (KASCO) general assembly approved the board proposal to raise authorized, issued and paid-up capital from KWD 4.4 million (USD 14.26 million) to KWD 15 million (USD 48.60 million) via KWD 10.6 million (USD ~34.34 million) increase representing 241% of current capital.
- Increase occurs through issue of 106.04 million bonus shares at 100 fils each from retained earnings as of 31 December 2025 to shareholders registered at assembly date, with board authorized to handle any fractional shares.
- Company shares rise from 44 million to 150.04 million, all cash shares, by amendment to article 6 of articles of association and article 5 of bylaws.
- Assembly approved alignment with international activity codes by amendment to article 5 of articles of association and article 4 of bylaws, replacing prior purpose wording while retaining core activities in in-flight meal preparation and supply, aircraft ground handling at airport, air cargo warehouse management and international air freight agency.
- Assembly approved addition of new purposes in fourth item, bringing total company activities to 35, including real estate and movable property ownership for company benefit, land and property purchase and sale on company account, management and lease of owned or leased residential real estate, worker housing, central laundry and establishment of or participation in companies with others to execute company business.
Currency Rate: 1 KWD = 3.24 USD at 21SEP26
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