Mubasher: Boursa Kuwait announced that it has suspended trading on the shares of Gulf Investment House (GIH) until the completion of capital reduction procedures.

The suspension decision is effective starting from Monday, 28 January, until Tuesday, 5 February, according to a bourse statement on Sunday.

At the end of 2018, the extraordinary general meeting (EGM) of GIH approved cutting the capital from KWD 16.42 million to KWD 6.09 million to offset the accumulated losses by KWD 10.32 million.

During the first nine months of 2018, GIH reported KWD 839,360 in profits, compared to a loss of KWD 1.08 million in the same period a year earlier.