Mubasher: Ikarus Petroleum Industries on Monday said it is currently working on restructuring the firm during the coming period, in addition to executing an exit from investments at a value of KWD 140 million, CEO of Ikarus Reyadh Al Edrissi told Al Jarida newspaper
Ikarus achieved KWD 10.5 million net profits in 2018, while assets amounted to KWD 12.8 million due to a rise in investments’ value, and acquiring stakes in Saudi and Kuwaiti firms, Al Edrissi added.
Ikarus Petroleum Industries’ shareholders approved to distribute 25% of the capital as cash dividends for 2018.
In May 2016, Ikarus Petroleum Industries’s ordinary general meeting (OGM) had approved its withdrawal from Boursa Kuwait.
In February 2017, Ikarus stated it would implement the delisting from Boursa Kuwait in the same month.
