National Bank of Kuwait (NBK) has today obtained approval from the Capital Market Authority (CMA) for its planned KWD137.6 million rights issue. NBK’s Board of Directors had approved on 31 March a 6.5% rights issue, at a price per share of KWD0.4. The planned rights issue involves raising proceeds of KWD137.6 million (total shareholders’ equity stood at KWD2,607 million in December 2015) and 343.96 million new shares. NBK needs further approval from the Central Bank of Kuwait, but the rights issue does not need to be approved by the bank’s EGM, as per the new Commercial Law. (Bloomberg, Elena Sanchez-Cabezudo)   National Bank of Kuwait: KWD0.66 as of 21 April 2016, Rating: Buy, FV: KWD0.82 per share, MCap: USD11,642 million, NBK KK / NBKK.KW