22/07/2026 03:51 AST
Rawahel Holding Company KSC (Rawahel), in collaboration with National Investments Company (NIC), announced the successful completion of Rawahel's capital increase amounting to KWD 4.5 million, marking a significant milestone in Rawahel's restructuring journey post COVID-19 business losses. The transaction increased Rawahel's issued and paid-up capital by approximately 123.84 percent. NIC acted as the Lead Manager and Subscription Agent, overseeing the execution of the capital increase in accordance with all applicable regulatory requirements.
The capital increase achieved 104.37 percent subscription coverage, reflecting strong investor confidence in Rawahel's long-term growth strategy, management team and future prospects despite prevailing global economic uncertainties. Commenting on the successful completion of the transaction, Fahad AlMukhaizim, Board Member and Chief Executive Officer of NIC, stated: "We are proud to have successfully led this important transaction in the private market and to have supported Rawahel in achieving a fully subscribed capital increase. This transaction further reinforces NIC's long-standing track record in delivering complex capital market transactions with the highest standards of professionalism, efficiency and execution. Throughout the subscription period, our team worked closely with existing and prospective investors, ensuring a seamless subscription process that ultimately resulted in full coverage of the offering."
AlMukhaizim added: "At NIC, we remain committed to supporting the continued development of Kuwait's capital markets by partnering with leading companies to execute strategic transactions that enhance market liquidity and create attractive investment opportunities. We will continue to introduce innovative financial solutions and capital market products that contribute to the growth and diversification of the Kuwaiti investment landscape while supporting the broader objectives of the national economy."
Commenting on the successful completion of the transaction, Abdullah Al-Otaibi, Chairman of Rawahel Holding Company, said: "The successful completion of this capital increase marks an important milestone for Rawahel and demonstrates the confidence our shareholders and investors have in the Company's future. The process was executed smoothly while fully complying with all legal and regulatory requirements. We would like to thank our shareholders, regulatory authorities and all parties involved for their continued support throughout this important corporate action."
Al-Otaibi added: "The proceeds from the capital increase will be strategically deployed to strengthen the Company's financial position and support its future growth plans. This includes providing additional financial support to one of our subsidiaries to enhance its operations and expand its transportation fleet through the acquisition of additional buses, as well as funding working capital requirements."
NIC was appointed as Lead Manager and Subscription Agent based on its extensive experience and proven track record in managing capital market transactions, including capital increases, initial public offerings, listings and mergers and acquisitions. The subscription period remained open for 15 days, from 21 June to 5 July 2026. The successful completion of the capital increase represents another important achievement for both Rawahel and NIC, underscoring the strength of Kuwait's capital markets and reinforcing investor confidence in well-structured transactions that support corporate growth and long-term value creation.
As one of the leading investment institutions locally and regionally, NIC reaffirms its continued commitment to delivering integrated and innovative investment solutions based on a deep understanding of markets and client needs, while focusing on achieving sustainable growth and creating long-term value. The Company is committed to upholding the highest standards of governance and transparency, reinforcing its position as a trusted partner in developing the investment sector.
Kuwait Times
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