December 2, 2019 / 2:15 PM / 5 days ago

Kuwait bourse offering oversubscribed by more than 8.5 times - regulator

KUWAIT, Dec 2 (Reuters) - The Kuwait Capital Market Authority (CMA) said on Monday the sale of its stake in the local bourse to Kuwaiti citizens was more than 8.5 times oversubscribed.

“The CMA has now completed the privatisation of Boursa Kuwait,” it said. “The 50% public offering was preceded by the successful sale of 44% of the company to strategic investors in February 2019.”

The remaining 6% is owned by Kuwait’s Public Institution for Social Security, it said, adding that the offering was the last stage of the company’s privatisation process. (Reporting by Ahmed Hagagy; Writing by Maher Chmaytelli; Editing by Alison Williams)

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