Kuwait – Mubasher: Al Dar National Real Estate (ADNC) on Tuesday said its board of directors recommended reducing the company’s capital to cover a portion of the incurred losses.
The board noted that after the reduction, capital will reach KWD 15 million, down from KWD 42 million, whereas accumulated losses will reach KWD 2.03 million, Al Dar said in a filing to the Kuwait Stock Exchange (KSE).
The Kuwaiti company reported turning to profit in Q1-16 with KWD 64,270 against losses of KWD 230,720 in the same period in 2015.
