Mubasher: The board members of Metal and Recycling on Tuesday recommended increasing the authorised capital.

The Kuwait-based firm’s board has passed the capital raise proposal to the ordinary general meeting (OGM), according to a bourse statement on Wednesday.

The board also approved the income statements for the fiscal year ended on 31 December 2017, the leading eco-industrial company noted. 

It is noteworthy that Metal and Recycling has a capital of KWD 10 million distributed on 100 million shares at a par value of 100 fils each.