Mubasher: The general assembly of Kuwait Business Town Real Estate approved the board’s proposal for the distribution of KWD 2.99 million ($9.82 million) in bonus shares.

The 29.87 million bonus shares will be distributed on 23 May, according to a bourse statement released on Thursday.

Business Town’s general assembly elected new board members for a three-year term.

In March, the Boursa Kuwait-listed company posted KWD 974,000 ($3.12 million) profits during the fourth quarter of 2018 compared to KWD 1.48 million ($4.88 million) in the same period a year ago.