Kuwait – Mubasher: Al Dar National Real Estate’s board will discuss on Wednesday the mechanism to reduce the company’s capital.
The meeting will be a completion to what was approved on the board’s meeting held in mid-December, according to a bourse filing.
In May, the board recommended a capital reduction at a value of KWD 27 million to cut losses to reach KWD 15 million down from KWD 42 million, whereas accumulated losses will reach KWD 2.03 million.
Losses declined 22.8% to KWD 102,540 in the first half of 2016, compared to KWD 132,850 in H1-15.
The Kuwait bourse decided to suspend trading on Al Dar’s shares at the end of August, as a reason for not paying the annual fees for 2016-2017.
