National Bank of Kuwait (NBK), the country's biggest lender, said it would raise 409.6 million dinars ($1.49 billion) by selling shares to existing investors from Tuesday to help pay for acquisitions.

The sale will end on December 26, NBK said in a statement.

NBK shareholders approved the 20 percent capital increase in September to help finance the acquisition of AlWatany Bank of Egypt and 40 percent of Istanbul-based Turkish Bank. - Reuters