Mubasher: The Capital Markets Authority (CMA) has approved the capital reduction of Al Dar National Real Estate to offset the company’s accumulated losses, according to a bourse statement issued on Thursday.

The real estate firm will decrease the capital by cancelling 8.936 million treasury shares with an overall value of about KWD 893,600; thus, the capital will reach KWD 41.11 million from which the company will reduce the capital to stand at KWD 11.36 million.

Al Dar clarified that the financial impact from this reduction will be disclosed after the approval of the extraordinary general meeting, the statement added.