Mubasher: The Capital Market Authority (CMA) will approve the Gulf Investment House’s (GIH) auction for offering a 20% stake of its capital in spite of the trading halt in all the company's shares on Boursa Kuwait, sources familiar with the matter said.

The sources said that the Kuwaiti CMA considered the auction would be in favour of investors and the company, which has been halted by CMA, not for violating trading regulations.

The new investor will restructure capital of the Kuwait-based public shareholding company, in addition to clearing debt overhangs that in return leads to a settlement with the company's largest creditor, according to CMA.