Mubasher: The board of Abyaar Real Estate Development submitted a recommendation to the ordinary general meeting (OGM) regarding the optional withdrawal from Boursa Kuwait.
The board’s decision aims to cut the firm’s financing and administrative expenses, according to a bourse filing on Tuesday.
The board further recommended the OGM to hold an assembly to approve the withdrawal decision and to complete other related procedures. It will further approve the financial statements for the third quarter of 2019 in its next meeting.
If the delisting decision is resolved, it would result in generating losses worth KWD 11.6 million that will reflect on the financial statements of Q3-19, the company said.
