Kuwait's Amanah Warehousing Co has stopped selling shares in an initial public offering that began last week after a ministry was ordered to halt the offering, an Amanah official said.

Amanah, a logistics company operating according to Islamic law, said last month it planned to raise 31.5 million dinars ($111.7 million) in the offering, set to close on Sept. 17.

"We have decided not to accept subscription to the IPO until everything is clear," said Mishary al-Ghazali, head of the incorporation committee at Amanah.

"The government has instructed the trade ministry to stop the IPO until some issues are clarified," he said, adding the company had not yet received any notice from the ministry to stop the IPO.

"The reason for the cabinet decision is more political than economic," Ghazali said.

Amanah had received 23,000 subscriptions for the offering so far, which would have to be refunded if the government decides to cancel the IPO, he added. - Reuters