Board of ACICO Industries has recommended amortization of deferred losses amounting to KD 8.7 million (USD 29.5 million) after closing profits of the past financial year, amounting to more than KD 205,000 (approx. USD 697,000).
ACICO said in a statement posted on Boursa Kuwait website on Monday that the amortization would be by means of the issuance bond amounting to KD 34.4 million (USD 82.9 million).
The company, established in 1990 and listed in the bourse in 1997, has a capital of KD 33.3 million (some USD 113.2 million).
It runs a concrete plant, exports and imports construction materials, provides studies, consultations and organizes exhibitions.
Source: Kuwait News Agency