Under a law passed two years ago, 50 percent of the Kuwait Stock Exchange Company would be put up in an initial public offering while the rest would be sold to companies listed on the bourse.
The agreement was for a period of six months under which HSBC bank would begin the privatisation process, KSE Company’s Abdullah al-Gabandi told a news conference.
“We are confident that the privatisation of the stock exchange will be of a great benefit to Kuwait’s economy, investors and the listed companies,” he said.
Parliament in 2010 passed legislation to set up the CMA as an independent regulator for Kuwait’s stock market with an aim to boost transparency in the Arab world’s third largest bourse in terms of capitalisation.
The market has a capitalisation of around $100 billion and lists 215 local and foreign companies.
Sheikh Mohamed said solving the challenges facing the planet requires a shared vision
Williamson hit 104 off 205 balls in his 29th Test century with 11 fours
The draw for the $1,000,000 grand prize is set to take place live on December 2