Kuwait to Privatize its Stock Exchange

Jan 22

Posted by

Kuwait’s Capital Markets authority has hired HSBC Bank Middle East Ltd. to privatize its stock exchange.  The agreement with HSBC will provide for the government to establish a new company to own and operate the stock market.

Government’s plans are to sell half of the exchange to listed companies and the remainder to Kuwaiti’s in and initial public offering (IPO).

Kuwait’s stock exchange is the third-largest stock exchange, based on market capitalization, in the Persian Gulf.

Kuwait hired HSBC Holdings Plc (HSBA) to help the privatization of the country’s stock exchange, the third-biggest bourse by market capitalization in the Persian Gulf.

The exchange’s trading systems are provided by Nasdaq OMX.

Rumors of the privatization have been circulating for months in the Gulf.  The move is seen to be a big step toward the expansion of  the Kuwaiti Stock Exchange, and the providing of capital to growing businesses throughout the region.

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Posted on January 22, 2012, in Emerging Markets, Entrepreneurship, Initial Public Offering, IPO, Kuwait, Nasdaq. Bookmark the permalink. Leave a Comment.

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