By: Mohamed Farouk

Mubasher: The stock of the International Financial Advisors (IFA) advanced 8.3% or 2 fils to reach 24.9 fils, after trading on its shares has resumed early Sunday.

By 10:40 am Kuwait local time, IFA’s stock registered a trading volume of 6.5 million shares traded through 155 transactions at a value of nearly KWD 157,100.

This has followed a disclosure to Boursa Kuwait saying that the shareholders of IFA agreed to offset the company’s accumulated losses as well as reducing the capital.

Selling orders reached a volume of 2.17 million shares, versus around 606,400 shares representing the total purchase orders on the stock.

Resuming trading on IFA’s stock is considered positive for the investors in line with the company’s decisions to regulate and organise its financial position, capital market analyst Yassin Al Zeiny told Mubasher.

He highlighted that IFA is among the stocks that are considered attractive for investors as the company relies on owning equities in operating firms.