Kuwait – Mubasher: Al Dar National Real Estate (ADNC) said its board approved a mechanism to offset losses through cutting capital, according to a statement released on Sunday.
The board decided to reduce the mother company’s current capital from KWD 42 million to KWD 41.11 million.
The board gave a nod to cut Al Dar’s capital to KWD 10 million after offsetting KWD 31.11 out of total accumulated losses estimated at KWD 35.82 million.
