Mubasher: Kuwait’s United Real Estate announced that the board of its 33.33%-owned subsidiary, Mena Homes Real Estate Co, approved to increase the capital by KWD 10.985 million.
The new capital will amount to KWD 48.677 million, United Real Estate disclosed to Boursa Kuwait on Tuesday.
The new raise will reflect on the financial statements of the parent company due to higher investments and lower debts by KWD 3.662 million which represents United Real Estate’s stake in Mena Homes’ capital hike.
It is worth highlighting that in June 2019, Mena Homes increased its capital by KWD 10 million to KWD 37.962 million.
