Mubasher: The stock of Danah Al Safat Foodstuff started Thursday’s session lower, plummeting 71.22% after the stock resumed trading following the completion of the procedures pertaining to reducing its capital.

Danah Al Safat lost about 100 fils to reach 40 fils on Thursday. The stock had previously traded at 139 fils before Boursa Kuwait suspended trading on it.

In the Main Market, Danah Al Safat was the most active stock on which 1.92 million shares were exchanged through 179 transactions at a total value of KWD 82,000.

Purchasing orders reached 228,000 while the selling orders totalled 207,000.

In February, Danah Al Safat’s ordinary general meeting (OGM) approved decreasing the capital by 48.48% to KWD 14.875 million from KWD 28.875. 

The company last reported that its losses had soared by 101.3% year-on-year to KWD 4.77 million ($15.96 million) in the fourth quarter of 2017 from KWD 2.37 million ($7.93 million).