Kuwait Stock Exchange mulling new market

Kuwait Stock Exchange is mulling launching an over-the-counter market in 2011 mainly for troubled listed firms, its director said yesterday.

"The management of the bourse will submit this proposal to the bourse committee in January ... and God willing it could be set up in 2011," Hamed Al Saif said.

This market will be set up for companies that trade below 100 fils per share, Al Saif said, adding that the bourse will filter the firms based on certain criteria including their financial results and core business.