Mubasher: The board members of Real Estate Trade Centers (Marakez) approved the proposals requests by debtors to increase the capital by canceling the amount from the debtors’ account.
Marakez board approved canceling a total of KWD 550,000 as part of indebtedness, according to a bourse statement on Tuesday.
The board called on for holding an extraordinary general meeting (EGM) to consider raising the capital after obtaining required approvals from regulatory entities.
Marakez has a current capital standing at KWD 13.45 million distributed on 134.50 million shares at a par value of 100 fils each.
At the stock level, Marakez closed Tuesday’s session at 23.4 fils.
