Kuwait's Global Investment House shareholders will vote later this month on cancelling a previous approval of a 76 per cent capital hike.

Global's shareholders will vote on April 28 on 'cancelling the approval of the general assembly on May 5, 2010, for the capital hike worth KD100 million ($361.7 million)', the firm said in a statement on the Kuwaiti bourse website on Monday.

Global did not give a reason for the move. The increase was going to raise the firm's capital to 231.24 million dinars through issuing share at a nominal value of 100 fils per share.

In December 2009, Global, one of the Gulf Arab state's biggest investment firms, reached a deal with creditors to reschedule $1.7 billion in debt.-Reuters