Mubasher: Gulf Petroleum Investment (PetroGulf) has denied the news spreading on social media via Twitter regarding the possibility of reducing the company’s capital, according to a bourse statement issued on Sunday.

PetroGulf’s capital stands at KWD 45.58 million that is distributed on 455.8 million shares at a par value of 100 fils each.

At the stock level, PetroGulf closed Sunday’s session 8.77% lower at 33.3 fils after 19.9 million shares were exchanged at a value of nearly KWD 692,120.