Kuwait – Mubasher: The board of Al Dar National Real Estate approved on Tuesday the procedures set for trimming losses through decreasing the capital.

According to a bourse statement issued on Wednesday, Al Dar’s capital will be reduced to KWD 11.36 million from KWD 42 million by reducing the KWD 893,600 worth treasury shares to become KWD 41.11 million, then by decreasing KWD 29.75 million.

The capital reduction will be used to trim KWD 29.74 million worth accumulated losses, the statement added.

A profit worth nearly KWD 2,290 will result from the capital reduction.