Meysan is delighted to announce its role as legal counsel in the successful completion of Arabi Holding Group Company K.S.C. (“Arabi”) capital increase of KWD 36,322,070.820 through a rights issue. The offering of 172,962,242 ordinary shares at an offer price of 210 Kuwaiti Fils per share to existing shareholders raised Arabi’s capital to KWD 51,888,672.60. This rights issue represents a significant development for Arabi as it will support its financial solvency and improve working capital particularly with an upcoming entry into the Saudi market through one of the subsidiaries.
This transaction marks the first rights issue concluded in Kuwait for 2024, and underscores Meysan continued leadership and expertise in this area.
Meysan acted as the legal advisor to the Lead Manager and Subscription Agent, Ahli Capital Investments Company K.S.C.C. (“ABK Capital”), offering comprehensive advisory services throughout the transaction. Our role included filing and securing timely regulatory approvals, drafting the prospectus, ensuring that all corporate approvals, public announcements, and marketing materials were prepared and executed in strict compliance with regulatory and legal requirements. We also advised on the content and timing of the regulatory disclosures.
This milestone follows the prior success achieved in 2023, where Meysan had advised on Arabi’s KWD 26,809,147.510 rights issue. These transactions further enhance Meysan’s established track record of successful equity funding transactions.
Meysan’s team was led by Partner Tarek Yehya, and senior associate Samar Jrade and associate Nour Mashmoushi.
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