48.7% decrease in Over the Counter Market

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KUWAIT CITY, Feb 3: Kuwait’s Over the Counter Market (OTC) has witnessed a decrease last week by 48.7 percent compared to the previous week. The total trading reached 941,101 shares at a value of KD 17,3 (around $57,09) done through 20 transactions.

OTC report, issued on Sunday, indicated that ‘immediate’ transactions recorded a negative performance during the week, with trading reaching 336,410 shares, at a value of KD 10,112 (around $33,3) done through 15 transactions.

Boursa Kuwait had launched 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 Markets Authority bylaws and Boursa Kuwait rules.

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.

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