AlQabas reports that it has learned from secondary sources that the KSE has approved the transfer of assets by Global Investment House to Global Macro Fund in Bahrain. The assets comprise listed stocks, private equity holdings and as well holdings in various funds. As per the article, the KSE did not approve the transfer of one company and has requested additional explanation from GIH before rendering its decision.
You'll recall that earlier the KSE had required the GIH obtain approval from its shareholders for this asset transfer as well as for the transfer of real estate assets to a separate company in addition to their approval for the pledge of these assets under the restructuring. And that GIH had obtained such approval.
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