Boursa Kuwait Starts Listing Shares on Premier Market

SourceAl Bawaba
SectorFinancial Markets

The company will be classified under the “Financial Services” sector, bringing the total number of companies on the exchange to 174, while the number of listed companies in the “Premier” Market rises to 20 companies. The company’s paid-up capital amounts to approximately KD20.1 million ($65.5 million), which are divided into approximately 201 million shares. Furthermore, around 50% of the company’s shares, or what amounts to around 100 million shares, were offered to Kuwaiti citizens in an initial public offering process that concluded in December 2019, seeing an oversubscription rate of 850%. Boursa Kuwait saw a net profit of KD5.63 million for first half of 2020 while the company’s total assets came in at approximately KD41.7 million. Total operating expenses were KD3.12 million while total operating revenue came in at KD6.77 million. Boursa Kuwait more...