Kuwait's NBK shareholders approve rights issue

* username: rupertbu

Shareholders of the National Bank of Kuwait NBK.KW, the Gulf Arab state's biggest lender, approved a 10 percent capital increase through a rights issue to fund expansion.

This issue, at a price of 500 fils per share including premium, will raise 32.7 million dinars ($113.4 million), according to Reuters calculations. There are 1,000 fils to the dinar.

The bank has said the capital increase is intended to support expansion plans.