Ithmaar Holding plans to delist from Boursa Kuwait

Ithmaar Holding, a Bahrain-based Investment Firm announced yesterday plans to voluntarily delist from Boursa Kuwait, while maintaining its listing on the Bahrain Bourse and DFM. The announcement by the Ithmaar Holding Chairman, His Royal Highness Prince Amr Al Faisal, follows the Board of Directors’ review and approval of the plan, which will be presented to the Company’s shareholders at a general meeting later this month.

The plans are subject to the approval of relevant authorities in the State of Kuwait and the Kingdom of Bahrain. Ithmaar Holding’s plans to voluntarily delist from Boursa Kuwait will have no effect whatsoever on its subsidiary, Ithmaar Bank or any of its customers or investors, the bank said. Ithmaar Bank, a Bahrain-based Islamic retail bank, is a separate legal entity from its parent company, Ithmaar Holding. The Bank is not listed on any stock exchanges.