Boursa Kuwait Securities Co. plans to add derivatives and futures products to boost liquidity and attract more companies to list.
The exchange expects some family-owned businesses to list soon, followed by government-controlled companies, said Chief Executive Officer Mohammed Al-Osaimi. Boursa Kuwait has standardized listing rules, which should streamline the process for companies to go public, he added.
The move is part of a wider regional trend, with exchanges in Saudi Arabia and the United Arab Emirates ramping up efforts to encourage listings and attract foreign flows. Soaring commodity prices have made energy and raw material producers in the Middle East more attractive, and prospects of rate hikes are set to benefit bank stocks, which make up a big part of benchmarks in the Middle East.
Kuwait’s Premier Market Index is up 9% this year on a U.S. dollar basis, making it the 10th best equity benchmark in the world, according to data compiled by Bloomberg.
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