Mubasher: Ithmaar Holding, listed on the Bahrain Bourse, Boursa Kuwait, and the Dubai Financial Market (DFM), on Sunday announced that its board of directors has recommended delisting from Boursa Kuwait.

The board considers the optional write-off of shares as the company is focusing on capital restructuring, Ithmaar said in a statement.

The company also noted that it would remain listed on the Bahrain Bourse and the DFM.

In May, Ithmaar Holding reported a 329% year-on-year jump in profits attributed to shareholders for the first quarter of 2019.

Profits to shareholders amounted to $7.106 million in Q1-19, versus $1.655 million in Q1-18.