Subscription Coverage for Sanam's Capital Increase Reached 279%

Mr. Waleed Hamad Al-Sumait, the Chairman of the Board of Directors of Sanam Real Estate Company, announced the successful completion of the capital increase subscription process, with a subscription coverage of 279% of the targeted amount, which is 2.164 million Kuwaiti Dinars. This was achieved by offering 21.64 million shares, representing an increase of 27.63% of the total issued and paid-up capital, bringing the company's capital to 10 million Kuwaiti Dinars.

Regarding this matter, Mr. Waleed Hamad Al-Sumait stated that the goal of the capital increase subscription is to support the company's financial position in line with the strategy set by the Board of Directors. He noted that the proceeds from the capital increase will be directed towards developing the company's operations to maximize its returns, continue its plans, and achieve its future goals.

Dr. Suleiman Al-Abduljader, Deputy Chairman of the Board of Directors and CEO, expressed his satisfaction with the success of the subscription process and the strong interest shown by the shareholders. He praised the role of the Capital Markets Authority, the Kuwait Stock Exchange, and the Kuwait Clearing Company in the success of the capital increase process.