Mubasher: Mena Real Estate will hold its extraordinary general meeting (EGM) on Wednesday, 10 January 2018, to discuss the board’s recommendation of raising the capital by approximately KWD 7.05 million.

The Kuwaiti company will increase its capital to KWD 15.3 million from KWD 8.25 million, according to a bourse statement issued on Monday.

This rise will be distributed on 70.5 million shares at a par value of 100 fils per share, in addition to a premium issue of 33.535 fils, with a total of KWD 2.37 million.

Mena clarified that this increase will be allocated to the shareholders of Rasmal Holding Co in exchange for shares in Mena Real Estate, the statement added.