Article 242 of Companies Law

A closed shareholding company for which the period of prohibition on disposal of its shares has expired may be authorised to increase its capital through public subscription, by a decision of the Ministry issued on the basis of the Authority's approval. The approval of the Central Bank of Kuwait must be obtained if the company is subject to its supervision. The company shall be deemed to have converted into a public shareholding company as of the date of issuance of the Minister's decision authorising it to increase its capital through public subscription. In all cases, every closed shareholding company whose shares have been listed for trading on the stock exchange shall be deemed a public shareholding company from the date of listing. This provision shall apply to closed shareholding companies listed on the stock exchange at the time this Law enters into force. Part Eleven The Holding Company