Kuwait CMA approves Mazaya capital rise for Waterfront merger swap

Kuwait’s Capital Markets Authority approved raising Al Mazaya Holding’s capital from KWD 52.56m to KWD 53.41m via an in-kind issue tied to its merger with Waterfront Real Estate.

24 September 2026

Al Mazaya Holding Company K.S.C.P., listed on Dubai Financial Market under the ticker MAZAYA, said Kuwait’s Capital Markets Authority on Thursday, 24 September 2026 approved increasing its capital from KWD 52,556,117.400 to KWD 53,412,220.700, allocated over 534,122,207 ordinary shares.

The increase is an in-kind issue of 8,561,033 shares, about 1.6% of issued and paid-up capital, at a nominal value of 100 fils per share with no share premium. The new shares will be allocated to shareholders of Waterfront Real Estate Company K.S.C.C. at a swap ratio of 0.6917566 Mazaya share for each Waterfront share.

The rise supports a merger by amalgamation in which Mazaya is the merging company and Waterfront is the merged company. Existing Mazaya shareholders waived pre-emptive rights, so the new shares go to non-controlling Waterfront shareholders entitled thereto, excluding Mazaya’s own Waterfront stake and Waterfront treasury shares. The company said there is no impact on its financial position until the merger is completed.

According to an Al Mazaya Holding material-information disclosure filed with Dubai Financial Market on 24 September 2026.