Mubasher: Mena Real Estate will hold its ordinary general meeting (OGM) on Monday, 22 October, to consider the board’s recommendation of reducing the capital by about KWD 138,700 that represents the unsubscribed shares by the shareholders of Rasmal Holding Co.

Mena Real Estate’s board members proposed decreasing the capital to KWD 13.7 million from KWD 13.84 million, according to a bourse statement on Sunday.

The maturity date will be 7 November 2018, and the distribution date will be on 8 November; the board members will be authorised to modify the time frame.

Earlier in August, Mena Real Estate’s shareholders approved a capital cut of KWD 1.46 million to KWD 15.3 million from KWD 13.84 million.

At the stock level, Mena Real Estate closed Sunday’s session 3.6% higher at 25.9 fils.