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KFH amends timeline of AUB’s acquisition deal

KFH amends timeline of AUB’s acquisition deal
The new agenda will be announced in due course
KFH
KFH
0.65% 624.00 4.00
AUB
AUB
1.52% 0.60 0.01

Mubasher: Kuwait Finance House (KFH) has amended the timeline applicable to its acquisition offer of Bahrain’s Ahli United Bank’s (AUB) total issued share capital in response to Kuwait’s decision to suspend work in public entities until 12 April, due to the spread of the coronavirus (COVID-19). 

The offer process and receipt of acceptance and transfer forms in Bahrain and Kuwait will be postponed until work in resumed in Kuwait, according to a stock exchange statement on Monday.

The new agenda related to the commencement of the receipt and the implementation of the offer will be announced in due course.

In this respect, KFH requested an exemption from the Central Bank of Bahrain (CBB) concerning the postponement of the offer process, noting that it will provide any further details in a timely manner. 

Last week, KFH said that the receipt of acceptance and transfer forms would begin as of Thursday, 26 March, as mentioned in the offer document.