OTC trading up 512.5 pct last week – report

KUWAIT, Kuwait’s Over the Counter Market (OTC) has witnessed a notable increase last week by 512.5 percent compared to the week before.

The total trading reached 5.7 million shares at a value of KD 60,17 (around USD 198,5) done through 36 transactions.

OTC report, issued on Sunday, indicated that ‘immediate’ transactions recorded a positive performance during the week, with 773,8 shares traded, at a value of KD 43,5 (around USD 143,5) through 28 transactions.

AS for private transactions, trading was positive, reaching 4.9 million shares, with a value of KD 16,5 (around USD 54,45) through eight 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 regulations.

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.

Source: Kuwait News Agency