OTC sees 33 deals in five weekly sessions

1.6 million shares being traded

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.

Farwaniya Governor Sheikh Faisal Al-Hamoud received in his office a delegation from the United Arab Emirates (UAE) Interior Ministry led by Captain Khaled Daabis. The visit marks the end of their participation in the officers training course in Kuwait.

They discussed solid relations between Kuwait and the UAE in all fields, hoping this cooperation frame will continue in the interest of the two countries.