Global’s shareholders will vote on April 28 on “canceling the approval of the general assembly on May 5, 2010, for the capital hike worth KD100m ($361.7m),” the firm said in a statement on the Kuwaiti bourse website.

Global did not give a reason for the move.

The increase was going to raise the firm’s capital to KD231.24 million through issuing share at a nominal value of 100 fils per share.

In December 2009, Global, one of the state’s biggest investment firms, reached a deal with creditors to reschedule $1.7bn in debt.