https://arab.news/cb6fm
- Investcorp has experienced low trading volumes
RIYADH: Bahrain鈥檚 Investcorp Holdings will delist from the Bahrain Bourse after almost four decades due to low trading volumes, Bloomberg reported.
The Middle East鈥檚 biggest alternative asset manager got approval from investors to delist, on Wednesday, allowing investors the option either to let the company buy back the stock or to remain as investors in a private entity.
鈥淟ooking at our future strategy and growth plans, Investcorp is better off for its shareholders as a private company,鈥� co-CEO Hazem Ben-Gacem said in an interview.
鈥淭hat鈥檚 where we feel we can generate the best returns, and execute on our strategy without having to worry about quarterly results or certain other requirements of public markets,鈥� he said.
The company will continue to be headquartered in Manama, with the Central Bank of Bahrain as its primary regulator, he said.
鈥淔or now, our focus is on executing our long-term plan as a private company, and there鈥檚 no plans to consider another public listing,鈥� Ben-Gacem said.
Investcorp manages assets of more than $35 billion and is one of the biggest international financial firms in Bahrain.