Mubasher: The Financial Times Stock Exchange (FTSE) announced the transition of Kuwait to Secondary Emerging market status within FTSE Global Equity Index Series (GEIS) will be implemented in two 50% tranches.
The first tranche will be taken place coinciding with the FTSE GEIS semiannual review on 24 September 2018, FTSE said in a statement.
While the second tranche will be implemented in conjunction with the December 2018 FTSE GEIS quarterly review on Monday, 24 December 2018.
FTSE has posted the initial indicative list combining the companies that will be listed in the market including three companies of high capital, namely: Kuwait National Bank (KNB), Kuwait Finance House and Mobile Telecommunications (Zain).
The list also included three companies with medium capital including Agility, while the four other companies are with low capital comprising Warba Bank, according to the statement.
Liquidity testing period for the September 2018 review will be from Sunday 2 July 2017 to Friday 29 June 2018, FTSE said.
