Bahrain's Gulf Finance House (GFH) has requested that its shares be halted on the Kuwait stock exchange pending further notice, according to a statement on Sunday.
GFH did not give a reason for its request. The stock was also halted on the Bahrain bourse.
On Saturday, GFH said it plans to reduce its capital and raise up to $500 million in fresh funds to plug the holes a regional property crunch cut into its balance sheet.
The Islamic investment house said in August it would hold a shareholder's meeting in October to approve plans to raise funds through a murabaha, an Islamic equity-linked money market instrument.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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