Wednesday 30 July 2014

NIG to sell 30pc of Noor for $99m

Kuwait's National Industries Group has signed a memorandum of understanding to sell a 29.9 percent stake in Noor Financial Investment Co to an unidentified buyer for 28 million dinars ($99.43 million), the company said on Sunday.


Kuwait's NIG to repay $475m sukuk

  Kuwait's National Industries Group Holding (NIG) will repay its $475 million Islamic bond, or sukuk, when it matures on August 16, it said on Tuesday, dropping plans to get a four-year extension from creditors. NIG,


Moody's downgrades NIG

Moody's Investors Service has downgraded to B3 with a stable outlook from B2 with a negative outlook the Corporate Family Rating (CFR) and Probability of Default Rating (PDR) of National Industries Group Holding (NIG), as well as the instrumen


NIG extends $1bn capital hike deadline

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 294.3


NIG to raise $1.5bn from Islamic bonds

National Industries Group (NIG) plans to raise $1.5 billion by selling Islamic bonds, the company's chairman said. Citibank, Standard Chartered and BNP Paribas are among the arrangers, and presentations to investors will start next week, c

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