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Warba Bank announced today that subscription in its 100% capital increase, equivalent to 2,183,600 thousand shares, will begin on Thursday, April 10, 2025 and exclusively for shareholders with preemptive rights. This first subscription period will close on Thursday, April 24, 2025 and shares will be offered at a price of 200 fils per share, including 100 fils nominal value and 100 fils issue premium, bringing the total offering value to a total of KD 436,720.000.
Eligible shareholders are those registered in the Bank’s shareholder register with the Kuwait Clearing Company (KCC) as of Wednesday, April 9, 2025, and based on the acquisition cut-off date of Sunday, April 6, 2025. These shareholders will be entitled to exercise their preemptive rights during the first subscription period.
Should shares remain unsubscribed by the end of the first period, subscription will be open to the public will commence on Thursday, May 1, 2025, and close on Monday, May 12, 2025. During this period, both shareholders and non-shareholders may subscribe to any remaining shares.
Chief Executive Officer of Warba Bank, Shaheen Hamad Al-Ghanem, comments: “The anticipated capital increase represents a pivotal milestone in Warba Bank’s growth journey and a strategic step that supports our ambitious expansion plans. It strengthens our position as a leading Islamic banking institution. Over the past years, the Bank has achieved qualitative progress across various sectors, driven by a clear vision focused on innovation, digital transformation, and sustainability. Today, we invite our shareholders to join us in shaping the next chapter of this journey.”
Al-Ghanem added: “The increase will enhance our capital base and enable us to diversify our investments in line with customer aspirations, contributing to long-term shareholder value. Our shareholders have always been partners in our continued success, and this step reaffirms our commitment to executing a growth strategy that expands our banking services and invests in future-ready financial solutions. The subscription is an opportunity that enables shareholders to be part of a bright future as we work together to achieve our mutual vision.”
“To facilitate a seamless experience for our shareholders,” he continued, “we have enabled online subscription to save time and effort, aligning with our strategy of offering flexible, digital-first banking services.”
Al-Ghanem concluded by emphasizing that the capital increase is not merely a financial move, but a reaffirmation of the Bank’s long-term commitment to sustainable growth and its mission to provide Sharia-compliant, cutting-edge banking solutions.
“We are on the brink of a new phase of advancement and remain dedicated to reinforcing our leadership in the banking sector through strategic investments that drive innovation, elevate customer experience, and deliver enduring value. Together, we are building a stronger, more resilient future, under our vision-driven slogan: ‘We hear you, let’s own tomorrow.’”
Shareholders may subscribe online via the dedicated website www.ipo.com.kw or the IPO Kuwait mobile application. Subscribers must register using their Civil ID or Commercial Registration Number, and the system will automatically determine eligibility. For subscriptions of 150,000 shares or fewer (up to KD 30,000 per application), payment can be completed online via the K-Net electronic payment gateway.
For subscriptions exceeding 150,000 shares, applicants must access the same website to print a subscription data document, add their name, ID number, desired share quantity, and total value, and proceed with a bank transfer via their banking application or in-person branch service (if available). They must then upload a signed copy of the subscription data document and bank deposit slip to the subscription portal. Document signatures will be verified either via passport or by the shareholder’s bank.
Shareholders can also visit www.warbabank.com to download the full Capital Increase Prospectus, as well as a Frequently Asked Questions document to support their understanding of the process.
Once the subscription period ends and the necessary regulatory procedures are finalized, share receipts will be issued, and the new shares will be listed for trading on the Kuwait Stock Exchange without restrictions.
