RIYADH: Bahrain’s Investcorp Holdings will delist from the Bahrain Bourse after almost four decades due to low trading volumes, Bloomberg reported.
The Middle East’s 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.
“Looking at our future strategy and growth plans, Investcorp is better off for its shareholders as a private company,” co-CEO Hazem Ben-Gacem said in an interview.
“That’s 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,” he said.
The company will continue to be headquartered in Manama, with the Central Bank of Bahrain as its primary regulator, he said.
“For now, our focus is on executing our long-term plan as a private company, and there’s no plans to consider another public listing,” Ben-Gacem said.
Investcorp manages assets of more than $35 billion and is one of the biggest international financial firms in Bahrain.