Kuwait's National Industries Group Holding (NIG) has extended the subscription period for a capital increase after its stock fell below the issue price.

In May, NIG's shareholders approved a 25 percent capital increase; offering 294.34 million shares at 900 fils each for a total of 264.9 million dinars ($991.8 million).

Shareholders could order stock until October 30, a month later than originally planned, Kuwait's biggest construction materials firm said in a statement on the bourse website.

The company, an affiliate of family-owned industrial conglomerate Kharafi Group, gave no reason for the delay but analysts have said it would be difficult to fill the book after a recent slide on the local bourse.

NIG shares fell 2.2 percent by 0743 GMT to 880 fils. The stock has fallen around 13 percent since the start of September.

Kuwait has seen a flurry of capital increases for which the government partly blamed a bourse slide. - Reuters