Kuwait – Mubasher: Al Mal Investment’s stock, listed on Boursa Kuwait, led losers on Monday, plunging to its lowest level since listing.

By 11:05 am Kuwait time, the investment firm’s stock slid 8.33% to 16.5 fils, registering a turnover of KWD 82,930 after 4.87 million shares changed hands through 96 transactions.

On Sunday, Al Mal said it had received an approval from the Kuwaiti Capital Markets Authority (CMA) to reduce its capital to KWD 31.02 million in order to trim losses of KWD 35.93 million.

Al Mal Investment recently said it succeeded in reducing its losses by 97% in the first three months of 2017 to KWD 145,540, compared to KWD 5.34 million in losses in the year-ago period.

In the meantime, Kuwaiti indices were up collectively. The price and weighted indices grew 0.17% each, while the Kuwait-15 index edged up 0.07%.