Mubasher: Al Mudon International Real Estate will hold its ordinary and extraordinary general meetings (OGM) and (EGM) on 16 October to discuss the board’s recommendation of raising the capital.

Al Mudon’s board members have proposed raising the capital to KWD 39 million from KWD 10 million, according to a bourse statement issued on Thursday.

The capital hike will be by 290% or KWD 29 million through issuing 290 million shares at a par value of 100 fils each, without an issue premium.