Kuwait – Mubasher: Real Estate Trade Centres (Marakez) will convene its shareholders meeting on Monday, as rescheduled, to discuss approving a 16% increase of issued capital in a value of KWD 1.9 million.

Kuwait-listed Marakez said the capital hike will boost its current capital from KWD 11.55 million to KWD 13.45 million, through issuance of shares at nominal value of 100 fils each without an issue premium.

The increase will be allocated to Marakez’s creditor Abdel Hamid Abbas Dashty as to partially settle a debt that was due by the end of 2014, with current shareholders to waive their right to subscription.