Abyaar Real Estate’s board mulls delisting from Boursa Kuwait

The delisting may reduce the firm’s administrative and general expenses

  
Image used for illustrative purpose. Salem Al-Mieh (L) and Jassem Al-Kandari work the phones at a brokerage firm in the Kuwait stock exchangeDecember 1, 2002 in Kuwait City, Kuwait. With the possibilities of war in Iraq looming investors are unsure what that will do to the market.

Image used for illustrative purpose. Salem Al-Mieh (L) and Jassem Al-Kandari work the phones at a brokerage firm in the Kuwait stock exchangeDecember 1, 2002 in Kuwait City, Kuwait. With the possibilities of war in Iraq looming investors are unsure what that will do to the market.

Getty Images/Joe Raedle
Kuwait - The board of Abyaar Real Estate Development will discuss the optional delisting from Boursa Kuwait during the meeting that will be held on Monday, 28 October 2019.

The decision is expected to reduce the firm’s administrative and general expenses in case the withdrawal procedures are completed. However, the exact amount cannot be determined at the moment, according to a bourse filing on Sunday.

It is worth to mention that during the second quarter of 2019, the company turned to loss at KWD 19.67 million ($64.87 million) in Q2-19, against profits of KWD 93,490 ($308,310) in Q2-18.

Source: Mubasher

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