Mubasher: The Board of Commissioners of Kuwait’s Capital Markets Authority (CMA) approved Kuwait Bahrain International Exchange’s request to optionally withdraw from Boursa Kuwait.

Under such approval, the firm shall adhere to the procedures stipulated in the listing regulations of CMA’s executive bylaws, according to a bourse statement on Thursday.

In September 2019, the company’s ordinary general meeting (OGM) approved the optional withdrawal from Boursa Kuwait.

In April, the board of the company ascribed the optional withdrawal to several reasons, including higher membership fees in the Kuwait Clearing Co and Boursa Kuwait with no benefits to shareholder as well as the absence of the company’s trading of its shares by the equity owners for the remaining shares which represent 19% of capital.