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Wednesday , December 11 2019

Kuwait’s OTC market trading witnessed decline last week

KUWAIT CITY, July 21, (KUNA): Kuwait’s Over the Counter Market (OTC) witnessed a decline in trading volume last week, with 2.8 million shares changing hands. Shares traded went through 44 transactions worth KD 46,400 (around USD 152,000).

OTC report, issued on Sunday, indicated that ‘immediate’ transactions registered a negative performance, with trading reaching one million shares at a value of KD 24,000 (around USD 78,000) through 31 transactions. As for ‘special’ transactions, 1.7 million shares were traded, valued at KD 22,400 (around USD 73,300) through 13 transactions.

Boursa Kuwait’s OTC is a trading platform for companies not listed in the bourse, with transactions carried out through licensed brokerage offices working under Capital Markets Authority bylaws and Boursa Kuwait regulations. The fresh market aims to create a transparent environment by bringing buyers and sellers together using fully supervised mechanisms. The trading platform adopts the clearing and settlement procedures.

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