Mena Real Estate (MENA`R)

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News

13 February 2020 03:20 PM Rasmal to buy KWD 10m assets from Mena Real Estate

Mubasher: The board of Mena Real Estate reached a preliminary approval on the offer submitted by its subsidiary Rasmal Holding Company to purchase some of the first’s assets and investments worth KWD 10.25 million.      The transaction’s material …

Companies Investments

5 January 2020 10:45 AM KFIC sells 13.3m shares in Mena Real Estate

Mubasher: Kuwait Finance and Investment (KFIC) has sold 13.26 million of its shares in Mena Real Estate. The deal was concluded on Tuesday, 31 December 2019, Mena Real Estate said in a bourse statement on Sunday.   In November, the target of …

Real estate

19 November 2019 04:09 PM Mena Real Estate completes exiting deal

Mubasher: Mena Real Estate has announced that it exited KWD 242,430 investments, according to a bourse statement released on Tuesday. The exiting transaction has no impact on consolidated income or total shareholder equity, Mena added. It is worth …

Companies Investments

13 March 2019 11:50 AM Mena Real Estate’s unit exits investment in Yemen

Mubasher: Mena Real Estate announced that its subsidiary Rasmal Holding Co has sold its full equity in an investment in Yemen. Net profit from this exit is estimated at about KWD 60,190 of which nearly KWD 47,180 will be allocated as a profit to …

Companies Investments

12 February 2019 00:47 PM Mena Real Estate 9M financials turn profitable

Mubasher: Mena Real Estate has achieved profits during the first nine months ended on 31 December 2018 against a loss in the corresponding period in 2017. Earnings stood at KWD 2.4 million ($1 million) in 9M ended on 31 December 2018 versus a loss …

Financial Results

11 November 2018 09:29 AM Mena Real Estate's stock resumes trading Sunday

Mubasher: Boursa Kuwait on Sunday announced that Mena Real Estate's stock would resume trading as of Sunday, 11 November. Trading will resume after Mena Real Estate completed its capital cut procedures, the bourse explained. In late October, Mena …

Trading Activities

29 October 2018 05:28 PM Mena Real Estate continues to reduce capital

Mubasher: Mena Real Estate announced the completion of the procedures required for reducing the capital to KWD 13.7 million. The company is currently working on allocating 54.57 million shares to the shareholders of Rasmal Holding Co in return for …

Corporate Actions

7 October 2018 03:53 PM Mena Real Estate to discuss capital cut late October

Mubasher: Mena Real Estate will hold its ordinary general meeting (OGM) on Monday, 22 October, to consider the board’s recommendation of reducing the capital by about KWD 138,700 that represents the unsubscribed shares by the shareholders of …

Corporate Actions

17 September 2018 10:47 AM Mena Real Estate’s stock falls 3% early Monday

Mubasher: Mena Real Estate’s stock plunged 3.12% to 24.8 fils after resuming trading during Monday’s early trades. Last week, Boursa Kuwait announced the suspension of trading on Mena’s stock starting from Wednesday, 12 September until Sunday, 16 …

Trading Activities

12 September 2018 10:32 AM Boursa Kuwait suspends trading on Mena Real Estate

Mubasher: Boursa Kuwait announced the suspension of trading on Mena Real Estate’s stock starting from Wednesday, 12 September, until Sunday, 16 September. The suspension of trading on Mena’s stock came as a result of the ordinary general meeting’s …

Management Decisions

16 August 2018 04:35 PM Mena Real Estate runs $3.2m investments in Turkey

Mubasher: Mena Real Estate announced that it operates one company in Turkey in the real estate development sector. Adamena Real Estate Development has total investments of $3.2 million that represents 9% of the shareholders’ equity rights, …

Real estate

6 August 2018 02:26 PM Mena Real Estate nods to KWD 1.5m capital cut

Mubasher: The ordinary general meeting (OGM) of Mena Real Estate approved shrinking its capital by KWD 1.46 million which represents the value of the unsubscribed shares by the shareholders of Rasmal Holding Co. Mena Real Estate will reduce the …

Real estate

24 June 2018 10:50 AM Mena Real Estate incurs higher losses

Mubasher: Mena Real Estate registered an increase of 249.2% in losses during the fiscal year that ended on 31 March when compared to the same period a year ago, according to a bourse statement on Sunday. Losses deepened to about KWD 731,780 ($2.42 …

Real estate

23 April 2018 03:13 PM Mena Real Estate to extend rights issue period

Mubasher: The board members of Mena Real Estate approved to extend the rights issue period for another two weeks. The duration previously scheduled for offering shares to raise the capital was supposed to end on 1 May 2018, according to a bourse …

Corporate Actions

13 February 2018 03:26 PM Mena Real Estate losses shrink 14.9% in Q3

Mubasher: Mena Real Estate reported a decline of 14.9% in losses during the third quarter that ended on 31 December 2017 compared to the same period in the prior year. Losses decreased to approximately KWD 88,900 ($269,300) in Q3-17 from nearly …

Financial Results

10 January 2018 04:09 PM Mena Real Estate nods to 85.5% capital hike

Mubasher: Mena Real Estate said that its extraordinary general meeting (EGM) on Wednesday approved the board’s recommendation to raise capital by 85.5% to KWD 8.25 million from KWD 15.3 million. Increasing the capital by KWD 7.05 was distributed …

General Assembly

11 December 2017 00:16 PM Mena Real Estate considers KWD 7.05m capital hike

Mubasher: Mena Real Estate will hold its extraordinary general meeting (EGM) on Wednesday, 10 January 2018, to discuss the board’s recommendation of raising the capital by approximately KWD 7.05 million. The Kuwaiti company will increase its …

Board of Directors

22 November 2017 06:02 PM Mena approves 58% capital cut

Kuwait - Mubasher: The extraordinary general meeting (EGM) of Mena Real Estate has approved reducing the company’s capital by KWD 11.4 million, from KWD 19.65 million to KWD 8.25 million, according to a bourse filing. The company said in a …

Mergers and Acquisitions

18 May 2017 02:22 PM MENA Real Estate to raise capital on takeover

Kuwait – Mubasher: The board of MENA Real Estate Company approved the company stock evaluation reports, as well as Rasmal Holding Co’s, including the reports on raising MENA’s capital and assets in case of acquiring 100% of Rasmal’s shares. MENA …

Companies Investments

5 March 2017 08:58 AM Mena Real Estate mulls takeover of Rasmal Holding

Mubasher: Mena Real Estate said that the board meeting on 2 March showed primary intention to acquire Rasmal Holding Co, according to a bourse statement issued on Sunday. The acquisition will be in return for raising Mena’s capital through new …

Corporate Actions

13 November 2016 01:45 PM Mena Real Estate Q2 profits fall 73.3% YoY

Kuwait – Mubasher: Mena Real Estate registered a drop of 73.3% during the second quarter of 2016 as compared to the same period in 2015. Net profit reached about KWD 44,990 ($148,040) in Q2-16, compared with approximately KWD 168,540 ($554,590) in …

Financial Results

9 November 2016 11:48 AM Napesco, Mena to disclose financials mid-November

Kuwait – Mubasher: National Petroleum Services (Napesco) will hold its board meeting on Sunday, 13 November, to discuss the financial statement of the period ended 30 September, 2016. In the second quarter of 2016, profits reached KWD 2.35 million …

Financial Results

9 August 2016 02:53 PM Mena Real Estate suffers losses in Q1 financials

Kuwait – Mubasher: Mena Real Estate suffered losses worth nearly KWD 57,134 ($188,890) in the first quarter of 2016 against profits worth nearly KWD 194,720 ($643,760) in the same quarter of the prior year. The negative turn in Q1 financial …

Financial Results

8 August 2016 01:35 PM Mena Real Estate exits KWD 209,250 business

Kuwait – Mubasher: Mena Real Estate has sold its entire stake in an investment worth about KWD 209,250, according to a bourse statement. A profit worth nearly KWD 116,250 will be generated from the exit deal to be registered in the Q2 financial …

Corporate Actions

14 June 2016 00:31 PM Mena Real Estate denies Rasmal merger

  Kuwait – Mubasher: Kuwait – Mubasher: Mena Real Estate on Tuesday denied news published by Al Qabas newspaper that it had merged with Kuwait-based Rasmal Holding Co. Mena has not contacted the Kuwaiti Capital Market Authority (CMA) at all …

Mergers and Acquisitions