Boursa Kuwait Organizes Its Sixth Corporate Day in Collaboration With HSBC

Press release
Published June 7th, 2021 - 10:14 GMT
Boursa Kuwait Organizes Its Sixth Corporate Day in Collaboration With HSBC
Head of Markets Sector at Boursa Kuwait Noura Al-Abdulkareem
Highlights
Fifty-four prospective investors from twenty-six world-renowned firms met with eleven companies listed on the exchange

Boursa Kuwait organized a virtual Corporate Day in collaboration with HSBC, one of the world’s largest banking and financial services institutions, from 1-2 June 2021. During the two-day conference, held virtually due to the continuing spread of the coronavirus pandemic, 11 companies listed on the Kuwaiti stock exchange, including Boursa Kuwait, met with 54 prospective investors from 26 of the world’s leading investment banks and asset management firms.

Over two days, the participating Kuwaiti companies, which include the National Bank of Kuwait, Kuwait Finance House, Gulf Bank, Boubyan Bank, Burgan Bank, Mobile Telecommunications (Zain), Agility Public Warehousing, Mabanee, HumanSoft, Jazeera Airways, and Boursa Kuwait Securities Company, held over 150 meetings with prospective investors including commercial banks, mutual funds, hedge funds, pension funds and insurance firms. The meetings provided international investors the opportunity to gain an in-depth understanding of the benefits and prospects of investing in Kuwait and offered deeper insights into the financial performance and business strategies of the publicly traded companies.

Head of Markets Sector at Boursa Kuwait Noura Al-Abdulkareem said that the hosting of the Corporate Day event came as part of the company’s ongoing commitment to developing and sustaining a strong and efficient financial market thriving on liquidity and transparency.

She added, “The conference has enabled us to effectively put issuers in touch with prominent investors from around the globe for investment opportunities, making a further step forward in our effort to create an attractive platform that benefits all market participants. I would like to thank HSBC and the listed companies for joining us on this event. Boursa Kuwait is committed to seeking new partnership opportunities to launch more value-adding initiatives in the future and contribute to the growth of the Kuwaiti capital market in particular and the wider national economy in general.”

During its participation in the event, Boursa Kuwait highlighted its recent milestones, financial performance, and company strategy, as well as shedding light on its plans to develop a more transparent and solvent capital market through the implementation of a slew of operational and regulatory enhancements and the adoption of technology to raise the bourse’s profile regionally and globally.

Commenting on the event, Boursa Kuwait’s Chief Financial Officer Mr. Naim Azad Din said, “Over the past few years, Boursa Kuwait has reached several milestones that have had a tremendous impact on its growth and objectives. The company’s financial and operational performance led to it becoming more flexible, especially during the period of uncertainty brought upon by the pandemic, and with the consolidation of the Kuwait Clearing Company, Boursa Kuwait has diversified its operations, providing further testament to the resiliency inherent within its business.”

Naim Azad Din continued, “This is our second Corporate Day as a company listed in the “Premier” Market. The event has offered us an excellent opportunity to highlight Boursa Kuwait’s potential to create value for prospective investors’ portfolios and gain the confidence of the international investment community, in addition to gathering significant insights into their needs and expectations, which will inform our future initiatives.”

Boursa Kuwait’s series of Corporate Days showcases some of the standout listed companies and the investment opportunities that reside in the Kuwaiti capital market. Putting these companies in touch with some of the world’s leading investment firms and financial institutions, the events aim to highlight these companies’ financial health and business strategies and outlooks helping investors gain an in-depth understanding of the benefits and opportunities of investing in Kuwaiti companies.

Since its inception, Boursa Kuwait has worked diligently to create a credible exchange built on efficiency and transparency, creating a liquid capital market, a progressive exchange platform and developing a comprehensive set of reforms and enhancements that has allowed it to compete on an international level. Over the past three years, the company has rolled out numerous market reforms and new initiatives as part of its comprehensive multi-phase market development (MD) plans.

 

Background Information

Boursa Kuwait

Boursa Kuwait was founded on April 21st, 2014 by the Capital Markets Authority Commissioners’ Council Resolution No. 37/2013 dated 20th November, 2013 and the Capital Markets Authority Law No. 7/2010. In addition to being primarily responsible for regulating all aspects of the Kuwaiti capital market, the Capital Markets Authority also has full ownership of Boursa Kuwait, which manages the exchange operations. Boursa Kuwait is responsible for introducing new trading rules, risk management practices, price discovery mechanisms and new technology to ensure that Boursa Kuwait is as robust and secure as possible. The establishment of Boursa Kuwait marked the first step in privatizing the Kuwaiti Stock Exchange, which was founded in 1983. 

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