Al Mazaya gets CMA approval for in-kind capital rise tied to Waterfront merger

Kuwait’s CMA cleared a lift in capital from KWD 52.56m to KWD 53.41m via 8.56m new shares for Waterfront Real Estate shareholders.

28 September 2026

Al Mazaya Holding Company K.S.C.P. said Kuwait’s Capital Markets Authority approved an in-kind capital increase linked to its merger by amalgamation with Waterfront Real Estate Company, in a disclosure dated 24 September 2026. Capital rises from KWD 52,556,117.400 to KWD 53,412,220.700 by issuing 8,561,033 new shares at 100 fils each. The swap ratio is 0.6917566 Al Mazaya share for each Waterfront share.

• Al Mazaya Holding said on 24 September 2026 that Kuwait’s Capital Markets Authority approved an in-kind capital increase tied to its amalgamation with Waterfront Real Estate Company.
• Al Mazaya’s capital rises from KWD 52,556,117.400 to KWD 53,412,220.700, allocated over 534,122,207 ordinary shares.
• Al Mazaya will issue 8,561,033 new shares at a nominal value of 100 fils each, without a share premium, representing about 1.6% of issued and paid-up capital.
• The new Al Mazaya shares go to Waterfront shareholders at a swap ratio of 0.6917566 Al Mazaya share for each Waterfront share, excluding Al Mazaya’s own Waterfront holding and Waterfront treasury shares.
• Al Mazaya lodged the notice with Dubai Financial Market, where MAZAYA is listed.

Al Mazaya Holding Company K.S.C.P. (MAZAYA) said the Capital Markets Authority approved an in-kind capital increase linked to its merger by amalgamation with Waterfront Real Estate Company K.S.C.C.

In a disclosure dated Thursday, 24 September 2026, the company said capital rises from KWD 52,556,117.400 to KWD 53,412,220.700, allocated over 534,122,207 ordinary shares. The increase is effected by issuing 8,561,033 new shares at a nominal value of 100 fils each, without a share premium, representing about 1.6% of issued and paid-up capital.

The new shares are allocated to Waterfront Real Estate shareholders on a swap ratio of 0.6917566 Al Mazaya share for each Waterfront share. Al Mazaya is the merging company and Waterfront the merged company. Existing Al Mazaya shareholders waived pre-emptive rights so the increase goes to eligible non-controlling Waterfront shareholders as of the entitlement date, excluding Al Mazaya’s own Waterfront holding and Waterfront treasury shares.

The notice was also lodged with Dubai Financial Market, where MAZAYA is listed.