Kuwait liquidated Amanah Warehousing Company on Thursday, days after ordering it to suspend an initial public offering.

The official Kuna news agency said the Kuwaiti cabinet approved a motion to annul a decree that had set up the logistics company, citing 'public interest' without elaborating.

Newspapers have said the government objected to a statement by Amanah that it had asked the state to provide it with six sq km (1,480 acres) of land. Officials ordered the company to stop the IPO because its prospectus did not say the state was not obliged to give it land, the reports said.

A cabinet minister has said the order to stop the IPO was in line with a government 'pledge ... that no land would be allocated to any party before a state property bill was passed'.

Amanah started selling 60 percent of its shares on Aug 20 to raise 31.5 million dinars ($111.9 million) but was ordered on Monday to suspend the subscription, which was to end Sept. 17.

Amanah has said it would refund the 23,000 subscriptions it had received if it is liquidated. - Reuters