Mubasher: Danah Al Safat Foodstuff Company said that it had received Kuwait's Capital Markets Authority (CMA) approval for reducing the company’s capital by 48.5%.

The company's capital will be cut by KWD 14.88 million to KWD 14.88 million from KWD 28.88 million through cancelling 140 million shares with a par value of 100 fils per share, according to a bourse filing on Monday.

The value of the cancelled shares would be cashed to the eligible shareholders who are registered in Danah's register according to the share of each, the statement added.