SHUAA Capital confirms exit from KSE

by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 07 January 2009

SHARED DECISION: SHUAA Capital confirms that shares have been de-listed from the Kuwait Stock Exchange and all stock will now be traded on Dubai Financial Market. (Getty Images)

Dubai-based investment bank SHUAA Capital issued confirmation on Wednesday that its shares have been de-listed from the Kuwait Stock Exchange (KSE).

With all the bank’s shares now traded on the Dubai Financial Market, SHUAA said that it hopes to see an improvement in liquidity and trading volumes.

The shares were de-listed from the KSE as of January 1, 2009, after the company's shareholders originally decided on this action in June last year.

“SHUAA decided to de-list its shares from the KSE due to inconsistencies in regulations between the DFM and the KSE, making it difficult for dual listed companies to comply with the regulations of both exchanges,” said Oliver Schutzmann, head of investor relations and corporate communications at SHUAA.

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“We also expect an improvement of liquidity and trading volumes of SHUAA Capital shares on the Dubai Financial Market as a result of the de-listing.”

Kuwait remains an important operational market for SHUAA and the company is in the process of establishing a new subsidiary there, the bank said in a statement.