Mubasher: The board members of Kuwait Food – Americana recommended a voluntary withdrawal from Boursa Kuwait, as well as accepting the resignation submitted by the entire board, according to a bourse statement issued on Thursday.

The company clarified that the delisting decision resulted from the decrease of the number of shareholders to below 200 and the additional requirements for listing, as well as other factors, including financial costs.

The rate of trading on Americana’s stock decreased to 0.024% in March 2017 from 4.5% in 2015, the company added.

Americana highlighted that the withdrawal decision will not affect the weighted index of Boursa Kuwait; however, the price index will be positively impacted since the high-value stock will no longer impact the fluctuations of the index.

At the stock level, Americana ended Thursday’s session 3.3% higher at KWD 2.480.