Kuwait: Boursa Kuwait hosted its 8th Corporate Day, organized in collaboration with EFG Hermes, the leading investment bank franchise in Frontier Emerging Markets (FEM), from the 23rd to the 26th of May. The four-day event brought together 13 Kuwaiti companies with more than 175 international investors from over 95 institutions (USD 2 trillion in AUMs), to discuss and share insights on some of the most compelling opportunities across the Kuwaiti capital market. Among the takeaways from the 8th Corporate Day was that Kuwait is well-placed for continued growth over the coming period.
Kuwait’s increasing importance in Emerging Markets can be traced back to its reclassifications in the world’s leading index providers, which has led to wider investor exposure. Boursa Kuwait remains committed to attract foreign investments, organizing a series of meetings to raise awareness among international investors about the latest in the Kuwaiti capital market, highlighting the company’s development efforts as well as the opportunities and benefits offered by investing in the companies listed on the stock exchange.
Boursa Kuwait’s Head of Markets Sector Noura Al-Abdulkareem said: “Boursa Kuwait continues to provide opportunities for both companies and investors through its series of Corporate Days. The eighth edition, which was organized by EFG Hermes, reflects the exchange’s role in the growth of the Kuwaiti capital market and the national economy.”
“We were delighted to hold this virtual investor conference with our long-term partner Boursa Kuwait, as this progressive exchange continues to prove it is a market to watch. While global growth is expected to slow down in 2022, emerging markets are a favored destination for investors, driven by economic reform activities and attractive valuations, making Boursa Kuwait an appealing destination. Apart from rising oil prices, investors are drawn to Kuwait’s stock market given the strong consumer recovery after the imposed lockdowns in 2020 and the prospect of IPOs. Government initiatives to push further market reforms that can boost liquidity, such as adding margin trading, have also bolstered the Kuwaiti stock market’s position,” said Mohamed Ebeid, Co-CEO of the Investment Bank, EFG Hermes.
“Volumes continue to rise thanks to strong retail sentiment and rising foreign interest. In 2022, turnover averaged USD210 million, up from USD179 million in 2021 and USD144 million in 2020. The current oil price boom and removal of Russia from key EM indices have fueled fresh foreign interest in the market as foreigners net bought USD576 million in 1Q22, and USD4.2 billion in the past three years,” said Ahmed Waly, Head of Brokerage at EFG Hermes.
“Boursa Kuwait has developed into a leading regional stock exchange that follows international standards and believes in the private sector’s role in advancing the country’s economic development, and we expect it to garner strong results during the coming period,” he added.
Boursa Kuwait’s series of Roadshows and Corporate Days showcases some of the standout listed companies and the investment opportunities that reside in the Kuwaiti capital market. Putting these companies in touch with some of the world’s leading investment firms and financial institutions, the events aim to highlight these companies’ financial health and business strategies and outlooks helping investors gain an in-depth understanding of the benefits and opportunities of investing in Kuwaiti companies.
Since its inception, Boursa Kuwait has worked diligently to create a credible exchange built on efficiency and transparency, creating a liquid capital market, a progressive exchange platform and developing a comprehensive set of reforms and enhancements that has allowed it to compete on an international level. Over the past five years, the company has rolled out numerous market reforms and new initiatives as part of its comprehensive multi-phase market development (MD) plans.
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ABOUT BOURSA KUWAIT
Since it was established by the Capital Markets Authority to take over the responsibilities of the Kuwait Stock Exchange in 2014, Boursa Kuwait has worked diligently to build a progressive exchange platform based on efficiency and transparency, with a view to creating long-term value for the company’s stakeholders in the economic, social and environmental dimensions.
Guided by a mission-driven strategy that focuses on developing the market in line with international standards, Boursa Kuwait has successfully introduced innovative investment tools, reinforced transparency, and restructured the market to increase its competitiveness and liquidity. The company’s market developments and enhancements have contributed to the reclassification of the Kuwaiti capital market to “Emerging Market” status in the world’s top three indices, strengthening Kuwait’s position as a leading financial center in the region. A self-listed exchange, Boursa Kuwait is the first government entity in the country to successfully undergo privatization.
For more information about Boursa Kuwait’s initiatives and its latest developments, please visit www.boursakuwait.com.
