Shares in Boursa Kuwait rocket skywards on trading debut

SourceArabian Business
SectorFinancial Markets

Shares in the bourse operator rose as much as 1,100% shortly after the exchange opening on Monday Boursa Kuwait surged tenfold on its trading debut on Monday as it became only the third publicly listed exchange in the Middle East. Shares in the bourse operator rose as much as 1,100 percent shortly after the open. The stock traded as high as 1,210 fils, after being sold at 100 fills in an offering last year. The country’s Premier Market index was up 0.4 percent. VIDEO The trading debut was initially expected to take place in April and comes ahead of Kuwait’s upgrade to the group of countries classified as emerging market by MSCI in November, a move expected to trigger inflows from foreign investors. Boursa Kuwait joins Dubai Financial Market as a publicly traded stock exchange more...