Mubasher: Kuwait's Capital Market Authority (CMA) on Saturday requested citizens to update their personal details ahead of the launch of the local stock market's initial public offering (IPO).
The new offering will allow Kuwaiti citizens to own 50% of the stock market’s shares, the Kuwait News Agency (KUNA) noted.
“The privatisation of Kuwait's stock exchange is an integral step towards national development, helping transform the country into a financial hub,” the CMA said.
Under a law passed in 2010, the CMA shall offer 50% of the shares to Kuwaiti citizens and another 50% to ten Boursa Kuwait-listed companies.
