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Khaleeji Commercial Bank's OGM nods to delist from DFM

Khaleeji Commercial Bank's OGM nods to delist from DFM
Shareholders approved a capital reduction to BHD 89.21 million
KHCB
KHCB
-7.32% 0.04 -0.00

Mubasher: The ordinary general meeting (OGM) of Khaleeji Commercial Bank (KHCB), listed on Bahrain Bourse, has approved to delist the bank's shares from the Dubai Financial Market (DFM).

During the meeting, the shareholders have authorised the bank's board to carry out the procedures, which are subject to the approval of regulatory authorities.

The shareholders have also agreed on cutting the issued and paid-up capital from BHD 105 million to BHD 89.21 million distributed over 892.119 million shares with the value of BHD 1 per share to offset accumulated losses of BHD 15.788 million.

It is noteworthy to mention that in 2019, the bank logged losses of BHD 14.93 million, against a profit worth BHD 658,760 in 2018.