FINANCIAL NEWS

Kuwait�s Mushrif to increase capital by USD38m

27 Mar 2014

(MENAFN) Kuwait”s Mushrif Trading & Contracting said that it plans to increase its capital by USD38 million, increasing to a total capital of USD108.8 million, The Peninsula Qatar reported.

The company”s chairman said: “We are very pleased with the successful capital increase and the positive implications this has for our business and its strategy.”

He added that the funds will help the firm reduce its non-project related debt and strengthen its balance sheet.

Mushrif will continue its focus on its core market in Kuwait, but will also seek other growth markets in the GCC region, the chairman said.

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