CMA nods to Danah Al Safat 18% capital cut

Mubasher: The Capital Markets Authority (CMA) approved for Danah Al Safat Foodstuff to shrink its capital by 18.2%.

Danah Al Safat will reduce the capital to KWD 12.168 million from KWD 14.875 million to offset its accumulated losses, according to a bourse statement on Thursday.

The Boursa Kuwait-listed company’s accumulated losses amounted to KWD 4.7 million as KWD 4.39 million will be offset through an issue premium while the remaining KWD 307,230 will be offset through a capital reduction to KWD 14.568 million from KWD 14.875 million by canceling 3.072 million shares.

Following this capital cut, Danah Al Safat will reduce the capital by KWD 2.4 million after canceling 24 million shares to total KWD 12.168 million from KWD 14.568 million, the statement added.

Mubasher Contribution Time: 12-Jul-2018 09:41 (GMT)
Mubasher Last Update Time: 12-Jul-2018 09:48 (GMT)

Request a Trial

Title:*
First Name:*
Last Name:*
Job Title:*
Phone:*
Company:*
Email:*
Country:*
Comments:
*Required Fields
 
Submit

Already Registered?

Username/ Email:
Password:
 
Login
Support & Feedback
Ask for free trial