Boursa Kuwait suspends trading on IFA

Boursa Kuwait suspends trading on IFA
IFA earlier announced KWD 4.21 million worth of losses in Q1-19
IFA
IFA
2.22% 23.00 0.50

Mubasher: Boursa Kuwait has announced the suspension of trading activity on International Financial Advisors (IFA), dually-listed on Boursa Kuwait and the Dubai Financial Market (DFM).

Suspending the trading on IFA’s stock followed the company’s earlier disclosure which showed that the accumulated losses reached 79.6% of the capital, Boursa Kuwait said in a statement on Thursday.

The stock market’s regulations state that in case the listed company incurs accumulated losses of 75% or above of the total capital, Boursa Kuwait suspends all trading activity on the shares of this company.

IFA earlier announced KWD 4.21 million worth of losses in Q1-19.