First Takaful Insurance (FTI) is expected to relist its shares on the Kuwait Stock Exchange (KSE) in the near term, said CEO Hussein Al Attal.
The company was set to use its capital to offset losses before carrying out a capital hike, two steps for which FTI has secured approvals from the Kuwait's capital market authority (CMA), Al Attal told local newspaper Al Qabas.
The CMA approval included raising FTI's authorized capital from KWD 1.07 million to KWD 10.7 million, as well as raising its paid in capital from KWD 972,000 to KWD 10.6 million.
