Kuwait-Mubasher: Al Safat Energy Holding has requested Kuwait’s Capital Markets Authority (CMA) to agree on decreasing the company’s capital by KWD 40.3 million to reach KWD 20 million.
The Kuwaiti company said that the capital decrease will be through offsetting part of the accumulated losses, according to a bourse statement.
It is worth noting that Al Safat managed to shrink its 9M losses by 82.5% to reach about KWD 92,000 as compared to nearly KWD 526,000 in 9M-14.
