Bahrain's Sico to delist 4 of its funds this month

Asset manager secures regulatory approvals to go ahead with delisting

  
Bahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. Image used for illustrated purpose

Bahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. Image used for illustrated purpose

REUTERS/Hamad I Mohammed

Securities and Investment Company (Sico) will be delisting four of its funds from Bahrain Bourse with effect from June 8, 2021. 

In a bourse filing, the company said it has obtained all the necessary consents and regulatory approvals to delist Khaleej Equity Fund, Sico Kingdom Equity Fund, Sico Gulf Equity Fund and Sico Fixed Income Fund.  

“We would like to assure you that the [delisting] would not impact the unitholder in terms of current reporting standards of compliance with the regulatory requirements applicable for the fund,” the asset manager, broker and investment bank told its unitholders. 

Sico did not provide any reasons for the delisting. 

The company had earlier acquired a 72.7 stake in the Saudi-based Muscat Capital, a wholly owned subsidiary of Bank Muscat, through a share swap deal valued at 5.5 million dinars ($14.6 million). 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com 

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© ZAWYA 2021

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