Kuwait-Mubasher: The board of Ikarus Petroleum Industries has recommended on Monday a voluntary withdrawal from the Kuwait Stock Exchange (KSE), according to a statement.
The delisting proposal was brought forward on back of decreasing liquidity in the stock market, according to the statement which also cited weak trading activity on the stock and disappointing trading values comparing to the company’s performance in the past three years.
Ikarus has suffered losses worth KWD 7.84 million in the fiscal year 2015, against earnings worth KWD 10.11 million in FY14.
On KSE, the stock fell by 6.02% to settle at 78 fils on Monday, after around 40,800 shares were traded with a value of about KWD 3,180.
