Mubasher: The board members of Contracting and Marine Services recommended converting the legal entity of the company to be a closed shareholding company instead of a public joint-stock firm.

The structure of the closed shareholding company includes a limited number of shareholders, with a minimum of two, and is not offered to the public for a rights issue, according to a bourse filing issued on Thursday.

At the stock level, Marine Services closed Thursday’s session 1.69% higher at 60 fils, after about 20,300 shares were exchanged at a value of nearly KWD 1,200.