Kuwait-Mubasher: The board of Kuwait Wataniya Airways has recommended on Tuesday to hold an extraordinary general meeting to consider cancelling a capital raise of 140 million shares, and instead, reducing the capital to KWD 10 million from KWD 24 million.
The airline said in a statement that the subscribed shares totalled 951,000 making up less than 0.7% of the total capital increase earlier decided by the company’s shareholders. Thus, Wataniya has failed to increase its capital.
