Mubasher: Jordan Clothing Co will hold its board meeting on Thursday, 1 December, to consider increasing the capital as well as restructuring it based on the accumulated losses.

The company will consider a capital hike by 1.04 million shares with a par value of KWD 1 per share through offering the rights issue to the public or shareholders, the company said in a bourse statement.

The board will also discuss offsetting the capital based on the accumulated losses that totalled about KWD 1.05 million according to the company’s latest financial statements.