Bahrain’s GFH says board approves Kuwait delisting

Bahrain-based investment firm, GFH Financial Group (GFH), has won approval from its board to voluntarily delist its shares from the Kuwait Stock Exchange (KSE), the group said in a statement to Dubai Financial Market (DFM).

GFH said it now aims to focus trading in its home market and on DFM where its shares are heavily traded.

Accordingly, GFH will finalize the paperwork required for the delisting, for which no date has been given, with the Capital Markets Authority (CMA), the Kuwaiti market regulator.

The group said it would also save listing costs and eliminate any possible arbitrage opportunities and protect itself from violating the Kuwait regulator’s rules that contradict regulations in its home market, GFH said.

In April, the firm said it would delist its global depositary receipts from the London Stock Exchange. 

GFH provides Islamic finance solutions and invests in infrastructure and real estate projects.