By Ahmed Awad
Kuwait – Mubasher: Kuwaiti investment firms have decided to postpone their plans to go public on the local stock market due to the fall in oil prices and subsequent drop in regional and global markets, sources revealed to Mubasher.
Kuwait Stock Exchange has recently been actively convincing local companies to list their shares, especially in line with privaitsation of the market and the introduction of a global operator to the ownership of the new company. However, the slump in oil prices forced companies to delay their IPO plans to conditions stabilise, added the sources.
The Kuwaiti bourse has been lacking the launch of share offerings, with two companies only listed, namely Viva and Mezzan Holding, during the period 2014-2015.
Moreover, a total of 11 companies decided to delist from KSE in 2015, a move that was ascribed to the high cost of listing and the lack of confidence in the market coupled with thin liquidity.
Translated by Sayed Abdel Rahman
