Kuwait – Mubasher: National Ranges Company (Mayadeen) has approved the financial statements of fiscal year 2016, as well as listing on other stock markets outside Kuwait.
The listing will have a maximum value of 40% of the capital, according to a bourse statement issued on Monday.
The ordinary general meeting (OGM) of Mayadeen also approved zero dividends for the fiscal year.
During FY16, Mayadeen posted a decline of 12.6% in losses to KWD 2.6 million from KWD 2.97 million in FY15.
At the stock level, Mayadeen closed Monday’s session 3.45% lower at 28 fils.
