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Al Madina CEO resigns

Kuwait, June 25, 2012

Shares in Kuwait's Al Madina for Finance and Investment declined 5.3 percent on Monday, a day after its chief executive Mamdouh Al-Sherbiny resigned.

Shares in Al-Madina were down 5.3 percent at 45 dinars ($160.7) at 0911 GMT, their lowest level since Jan. 10. The benchmark index was down 0.8 percent.

In April, the company said it had gotten regulatory approval to buy back 10 percent of its shares over six months, beginning April 14. - Reuters




Tags: Kuwait | Madina | CEO |

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