Kuwait-Mubasher: The Capital Markets Authority (CMA) agreed on decreasing Manazel Holding’s capital by 39.8% to offset its accumulated losses, according to a recent statement.
Manazel will reduce its capital to KWD 43.04 million ($142.7 million) from KWD 71.5 million ($237.05 million).
The company’s losses reached KWD 32.3 million ($107.09 million) by the end of 31 December, 2015.
On the stock market’s level, Manazel retreated by 2.86% to 17 fils, after about 321,100 shares were traded with a value worth about KWD 5,400.
