|22 April, 2019

Kuwait Stock Exchange elects first board after privatization

The general assembly also approved the distribution of free bonus shares to shareholders at a rate of 5% from its capital

A Kuwaiti investor keeps track of stock prices at the Kuwait Stock Market October 13,2008.

A Kuwaiti investor keeps track of stock prices at the Kuwait Stock Market October 13,2008.

REUTERS/Stephanie McGehee

KUWAIT: The General Assembly of Boursa Kuwait elected yesterday its new board of directors for a period of three years, headed by Hamad Al-Humaidhi, with Ahmad Al-Thunayan as Vice President.

The board of directors includes member Bader Al-Kharafi, Talal Al-Bahar, Khaled Al-Falah, Raed Boukhamseen, Faleh Al-Ruqba and Bader Al-Jeyaan. The general assembly also approved the distribution of free bonus shares to shareholders at a rate of 5 percent from its capital, and paid up capital of 5 fils per 100 shares for the fiscal year 2018.

Humaidhi told KUNA on the sidelines of the general assembly meeting that the new board members will meet next week to tackle the most important features that will be taken to strengthen the market.

Board member Kharafi told reporters that the new strategy will be based on several clear and specific fronts, most notably encouraging foreign companies to list as well as searching for all ways to enhance liquidity levels. 

Kharafi added that the strategy also includes the introduction of new products and services, as well as continued attempts to persuade government companies in the interest of enhancing liquidity.

Kharafi noted that there is a tendency to reconsider the possibility of finding solutions in terms of fees imposed on listed companies, pointing out the need to develop a specific mechanism to encourage family companies to list.

All rights reserved. © Kuwait Times Newspaper 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

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