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FINANCIAL NEWS
Kuwait starts privatizing its bourse
23 Jan 2012
(MENAFN) Kuwait’s Capital Market Authority (CMA) signed an agreement with HSBC Holdings to help privatize Kuwait Stock Exchange, Bloomberg reported.
The government plans to sell 50 percent of the exchange to listed companies and the rest in an IPO.
Abdullah Al-Gabandi, head of the exchange privatization committee at CMA said the agreement with HSBC is for six months.
The Kuwait exchange has been regulated since March 2011 by the CMA, the country’s first stock-market regulator.
Currently, Dubai’s stock exchange is the only publicly traded Gulf Arab stock market.
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