Mubasher: Boursa Kuwait announced that the stock of the International Financial Advisors (IFA) will resume its trading activity starting Monday 26 August 2019.
The trading resumption of IFA’s stock followed the finalisation of capital cut procedures, Boursa Kuwait disclosed on Sunday.
On Sunday 18 August, Boursa Kuwait announced a trading suspension on IFA’s stock commencing 19 August 2019 until 25 August 2019.
Earlier in August, IFA announced the endorsement in its commercial register with the new capital amounting to KWD 26.67 million after reduction, in a way to amortise the accumulated losses representing 82% of total capital as on 30 June 2019.
It is worthwhile to mention that during the second quarter of 2019, IFA’s losses deepened by 29 times to total KWD 2.04 million.
During the first half of 2019, IFA’s losses amounted to KWD 6.25 million, with a 204% rise.
It is worth noting that IFA is dually listed on Boursa Kuwait and the Dubai Financial Market (DFM).
