Bahrain’s GFH says board approves Kuwait delisting

Gulf Finance House, the Bahrain-based investment firm, said on Sunday its board of directors had approved the voluntary delisting of its shares from the Kuwait Stock Exchange.

It would begin the application process for delisting with Kuwait’s Capital Market Authority, although the bourse filing announcing the move did not disclose a date for when shares would cease trading.

The decision meant GFH could focus trading on its home and the main secondary market for its shares, Dubai.

The move would also save on the costs of the listing and eliminate any possible arbitrage opportunities and incidences of violating rules in Kuwait which contradict regulations in its home market, the statement added.

GFH said in July it was once again studying the possibility of delisting in Kuwait, after announcing in April a review of its listings that ultimately kept Kuwait but decided to delist its global depositary receipts in London.