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Kuwait’s Al Dar nods to capital reduction

Kuwait’s Al Dar nods to capital reduction
The board also agreed to decrease the capital by KWD 29.744 million (Photo Credit: Arabianeye-Reuters)
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Kuwait – Mubasher: The board of Al Dar National Real Estate approved, on Monday, offsetting losses and decreasing the capital.

The company will decrease the capital by KWD 893,600 worth treasury shares to become KWD 41.1 million from KWD 42 million, according to a bourse filing issued on Tuesday.

The board also agreed to decrease the capital by KWD 29.744 million to KWD 11.632 million, and to offset the accumulated losses that reached KWD 29.744 million.