Al Aman Investment delisted from Boursa Kuwait after merger
The announcement was as per the CMA's decision
Image used for illustrative purpose. Salem Al-Mieh (L) and Jassem Al-Kandari work the phones at a brokerage firm in the Kuwait stock exchangeDecember 1, 2002 in Kuwait City, Kuwait. With the possibilities of war in Iraq looming investors are unsure what that will do to the market.
Getty Images/Joe Raedle
By Staff Writer, Mubasher
Kuwait - Boursa Kuwait on Tuesday announced the delisting of Al Aman Investment stock after the completion of the company's merger with The Securities House, as it is no longer a separate legal entity.
The announcement is based on a resolution by the Capital Markets Authority (CMA), according to a stock exchange statement.
Last March, Securities House finalised the legal procedures of its merger with Al Aman. The Securities House is the merging company, while Al Aman Investment is the merged.
A share swap of 74.865 million shares of Al Aman’s capital, owned by shareholders aside from Securities House’s stake, was exchanged for 105 million shares of Securities House’s capital hike, that are exclusively allocated to the shareholders of the first.
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