Mubasher: National Real Estate (NREC) will hold its ordinary general meeting (OGM) on Thursday, 8 November, to discuss increasing its issued capital and fully pledging this raise to the creditor, Agility Investment Holding Limited.

The shareholders will consider increasing NREC’s capital by 25.06% or KWD 27.28 million to KWD 136.14 million from KWD 108.86 million, according to a bourse statement on Thursday.

In mid-July, the Capital Markets Authority (CMA) in Kuwait approved converting Agility Investment’s debt to shares in NREC.

At the stock level, NREC closed Thursday’s session 1.7% higher at 91.5 fils.