Shareholders of Kuwait's Global Investment House (GLOB.KW) will vote on a 76 percent capital hike worth around $805 million on May 5, the firm said in a statement.
Global, one of the Gulf Arab state's biggest investment firms, plans to raise its capital to 231.24 million dinars ($805 million) through issuing shares at a nominal value of 100 fils per share, it said in a statement on its website.
There are 1,000 fils to the dinar.
The vote will take place at a shareholders meeting on May 5, it said.
In December, the firm reached a deal with creditors to reschedule $1.7 billion in debt, and entered into new three-year facilities with each of its 53 lending banks. [ID:nGEE5B90V7] Global said it will also seek investor approval on cancelling a capital hike it called for in June 2009. The firm had planned to more than double its capital at the time to almost $1 billion.
The troubles of Global and other investment firms, including major Islamic firm Investment Dar (TIDK.KW), led the government of the world's fourth-largest oil exporter to approve a rescue package worth 1.5 billion dinars last year.
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