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Boursa Kuwait introduced BK Main 50 index to boost its capital markets

The Global Economics by The Global Economics
February 10, 2020
in Finance
Reading Time: 1 min read
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Kuwait’s Capital Markets Authority (CMA) launched its IPO on October 1. It opened a subscription to Kuwaiti nationals, setting the offer price at 100 fils at nearly Dh1.20 per share. The IPO ended with a 44% sale earlier this year to an association of international and domestic investors. The major equities index in Kuwait rose from 0.1% gradually increasing to 17% this year. The CMA’s 50% stake was given to the public to finish the privatization process of the company. However, it is said that about 2 or 3 IPOs may launch in the Kuwaiti market this year and at the beginning of next year.

Recently, Boursa Kuwait released a new BK Main 50 index that includes the most heavily-traded shares in its main market. The operator of Kuwait’s equity market, which listed its shares in a public offering last December, claimed that the new index will represent the 50 most liquid shares, weighted by market capitalization. The release of the BK Main 50 Index represents a significant step further in Boursa Kuwait’s market segmentation and forms part of our ongoing endeavours aimed at creating a robust capital markets ecosystem in Kuwait. Overall, the involvement of Kuwait into MSCI’s rising markets index is likely to lead $3 billion which is nearly Dh11bn in passive inflows.

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The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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