Kuwait Syrian Holding announced that its deferred Extraordinary General Meeting has approved to increase the company's issued and authorized capital from KWD17.627 million to KWD35.225 million by around 100% at par value of KWD100 fils in addition to KWD3 fils issuance fees without issuance premium.

The capital increase will be allocated to existing shareholders and will be fully paid in cash, said a bourse statement.

In early September, the company obtained the Kuwait's Capital Market Authority approval to cut its capital in order to offset accumulated losses of KWD12.9 million.

Kuwait bourse will suspend trading on the company's shares as of December 17, 2014, added the statement.