Kuwait: stock exchange prevents trade of certain companies
The Kuwait Stock Exchange Authority prevented trading shares of five companies on the securities market, as they did not provide the required financial reports on time. According to the London based Al-Sharq Al-Awsat daily, the Authority announced that it would permit trading these companies’ shares when they present the necessary documents.
Tens of companies on the Kuwaiti Stock Exchange have disclosed their financial reports over the past few days so as to avoid negative repercussions by the authority.
Despite these events, the Kuwaiti index rose by 9.2 points on May 16—closing at 1,519.8 points—compared with two days before, where it declined by 19.2 points. The Kuwaiti securities market has a total of 86 companies listed. —(MENA Report)
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