Boursa Kuwait delists Mushrif Trading’s stock

Mushrif did not meet the regulations set by the Capital Markets Authority

  
Image used for illustrative purpose. Stock traders watch the Kuwait Stock Exchange trading floor in Kuwait September 13, 2005.

Image used for illustrative purpose. Stock traders watch the Kuwait Stock Exchange trading floor in Kuwait September 13, 2005.

REUTERS/Stephanie McGehee

Kuwait - Boursa Kuwait announced on Tuesday that it has delisted the shares of Mushrif Trading and Contracting from trading on the stock exchange.

This decision was undertaken based on the Capital Markets Authority’s (CMA) resolution.

Mushrif did not meet the regulations set by the CMA so the stock can be put back for trading on Boursa Kuwait.

Earlier on Tuesday, Mushrif disclosed its income statements for the nine-month period ended on 30 September 2016 until the period ended on 31 December 2018. The company incurred a loss of KWD 45.43 million in 2016, while nearly KWD 100,700 losses were registered in 2017, and KWD 6.97 million worth of losses in fiscal year 2018.

It is worth mentioning that Mushrif was founded in January 1968 and listed its shares on Boursa Kuwait in May 2006. The company’s capital stands at KWD 30.7 million distributed on 307 million shares at a par value of 100 fils each.

Source: Mubasher

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