Medical/Health Care

OTC trading up 363.9 pct last week – report

KUWAIT, Kuwait’s Over the Counter Market (OTC) spiked 363.9 percent last week, compared to the previous week.

The total trading reached 5.3 million shares at a value of KD 478.2 (around USD 1.5 million) done through 35 transactions.

In its weekly report, indicated that ‘immediate’ transactions recorded a negative performance, with trading reaching 786,700 shares at a value of KD 81,400 (around USD 268,600) done through 26 transactions.

Au contraire, special transactions were had a positive trend, with 4.5 million shares changing hands at a value of KD 396,800 (around USD 1.3 million) through nine transactions.

Boursa Kuwait had launched OTC as a new trading platform for those companies that 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 adopts clearing and settlement procedures.

Source: Kuwait News Agency