Mubasher: Gulf Investment House (GIH) on Sunday announced that it had signed a swap deal under which it exited its entire stake in both Durrat Marina and Bahrain Financial Harbour in return for obtaining an equity in Saudi Arabia's Gulf Real Estate Company.

The Kuwaiti company noted that the financial impact from this deal will be a loss of KWD 166,000 ($552,200) to be registered in the second-quarter financials, according to GIH's statement to Boursa Kuwait.

In June, GIH announced that its shareholders would hold an ordinary general meeting (OGM) on 10 July to discuss offsetting part of its accumulated losses as registered on 31 December 2017 through the legal reserve of nearly KWD 343,090.

The shareholders would also consider trimming the company's capital by KWD 10.33 million to KWD 6.10 million from KWD 16.42 million.