Mubasher: NBK Capital has kept its “Buy” recommendation on Jazeera Airways, and set the fair value at KWD 0.580, according to a statement issued by NBK Capital research unit.
Jazeera Airways stock “will trade without the rights for the capital reduction proceeds and the special dividend on 10 December,” noted the statement.
Shareholders will be entitled on 8 December to the capital reduction proceeds and the special dividend, as trading will be halted on 9 December.
Jazeera Airways previously announced that the paid up capital will be reduced to KWD 20 million from KWD 42 million through buying back 220 million shares from shareholders at KWD 0.100 per share. Thus, post this event, the number of shares outstanding will be 200 million.
The company’s special cash dividend amounts to KWD 10.7 million.
