Kuwait's Bourse Suspends Trade In 19 Firms
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Kuwait’s Bourse Suspends Trade In 19 Firms

Kuwait’s Bourse Suspends Trade In 19 Firms

The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.

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Kuwait’s stock exchange said it had suspended trading in the shares of 19 more companies on Sunday after they failed to report earnings on time.

The companies – several involved in real estate – join 12 other firms that were suspended earlier this year.

The new companies on the list included investment group Al-Ahlia Holding and International Financial Advisors.

The list, which now totals 31 companies, already included Investment Dar, which brought half of luxury British carmaker Aston Martin for 479 million pounds ($751.7 million) in 2007 and International Investment Group, which defaulted on a $200 million Islamic bond in April 2010.

Global Investment House, whose largest shareholders are the governments of Kuwait and Dubai, was also on the list, according to a statement on the Kuwait stock exchange website.

Kuwait’s markets watchdog warned several companies last month that they would be delisted.

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