Al Nawadi Holding’s board of directors approved, on Wednesday, the voluntary withdrawal from Kuwait Stock Exchange (KSE), according to a bourse statement.
The company noted that the withdrawal decision was due to low turnover in the market, poor market value, and weak trading activity.

Since January, Al Nawadi stock retreated about 36.5% to reach 86 fils by the end of Tuesday’s trading session.

It is noteworthy that Al Nawadi is not the first company to withdraw from the Kuwaiti market in the past months, as Pearl of Kuwait Real Estate and Union Real Estate withdrew from KSE in January and March respectively.

Kuwait Finance House, Qurain Petrochemical Industries, and Manafae Holding are expected to withdraw from the market in the coming months.