Shareholders approve plan to delist Ithmaar Holding from Boursa Kuwait

Bahrain-based investment company will continue to be listed on home bourse and Dubai Financial Market after Kuwait exit
Shareholders approve plan to delist Ithmaar Holding from Boursa Kuwait
Ithmaar Holding said its plans to voluntarily delist from Boursa Kuwait will have no effect on its subsidiary, Ithmaar Bank or any of its customers or investors.
By Sam Bridge
Sat 07 Sep 2019 10:20 AM

Shareholders of Ithmaar Holding, a Bahrain-based investment company, have approved plans to voluntarily delist from Boursa Kuwait.

The company, licenced and regulated by the Central Bank of Bahrain (CBB), will maintain its listing on the Bahrain Bourse and Dubai Financial Market (DFM).

Ithmaar Holding said its plans to voluntarily delist from Boursa Kuwait will have no effect on its subsidiary, Ithmaar Bank or any of its customers or investors.

Ithmaar Bank, a Bahrain-based Islamic retail bank, is a separate legal entity from its parent company, Ithmaar Holding.

The move, which was proposed earlier this month, is subject to the approval of relevant authorities in Kuwait and Bahrain, the company said in a statement.

Earlier this month, Ithmaar Holding reported a net profit of $13.03 million for the first half of 2019, a 20.4 percent increase compared to the same period in 2018.

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