OTC sees 33 deals in five weekly sessions
KUWAIT CITY, Dec 13, (KUNA): Kuwait’s Over the Counter Market (OTC) has witnessed the trading of 1.6 million shares worth KD 86.6 ($ 285.87) through 33 transactions during five sessions this week. Around two million shares of 18 companies were traded at a total value of KD 111.9 (about $ 369.27).
Boursa Kuwait had launched an Over the Counter Market (OTC) as a new trading platform for those companies that are not listed on the bourse. OTC transactions are carried out through licensed brokerage offices working under Capital Market Authority bylaws and Boursa Kuwait rules for the OTC market. The fresh market aims to create a transparent environment by bringing buyers and sellers together using fully supervised mechanisms. The trading platform will adopt the clearing and settlement procedures.