​KGL International for Ports, Warehousing and Transport K.S.C (closed), (KGLPI) announced the launch of the Private Placement Offering of 150 million new shares during a press conference held on March 2, 2010 at the KGLPI Head Office in Shuwaikh.

KGLPI solicits participation in the subscription of 150 million new shares at 100 Kuwaiti Fils per Share from its existing shareholders through a Rights Issue offering, while unsubscribed shares will be offered, after the specified period of placement, to the existing strategic investors at 105 Kuwaiti Fils per Share inclusive of 5 Kuwaiti Fils per share placement fee for a period open from 2 march 2010 till 16 March 2010.

"The proposed KD 15 million capital increase will expand our equity capital base from KD 12 million to KD 27 million," disclosed KGLPI Chairman Fadhel A. Albaghli. He cited that they foresee a substantial increase in sea port traffic in the forthcoming quarters, boosted by the inevitable rebound of infrastructure development and trade activities as global and regional markets transition towards a period of economic revival."The capital increase will be utilized for funding the completion of the Damietta Port project in Egypt which is planned to commence operations in September 2011, as well as for restructuring of some of the existing debts, thereby rendering us better equipped to capitalize on opportunities that create sustainable future earnings and growth," he pointed out.