Mubasher: Mena Real Estate said that its extraordinary general meeting (EGM) on Wednesday approved the board’s recommendation to raise capital by 85.5% to KWD 8.25 million from KWD 15.3 million.

Increasing the capital by KWD 7.05 was distributed on 70.5 million shares at a par value of 100 fils each, in addition to an issue premium of 33.5 fils a share at a total value of KWD 2.37 million, according to a bourse statement on Wednesday.

This increase of Mena’s capital will be allocated to the shareholders of Rasmal Holding Co.

This capital hike will be matured on 14 February 2018, while the distribution date will be on 15 February.

At the stock level, Mena Real Estate closed Wednesday’s 0.56% higher at 18.1 fils after 6.23 million shares were traded.