KSE tightens rules, suspends trading for firms failing to publish financial results
The Kuwait Stock Exchange (KSE) announced that trading in the shares of companies that have not disclosed their financial statements, in accordance with listing rules, will be suspended starting Wednesday.
In a statement published on its website Tuesday, the KSE indicated that the companies currently suspended from trading include International Housing Development Company, due to its accumulated losses exceeding 75 percent of its capital, and Kuwait and Gulf Link Transport Company, based on a decision by the Capital Markets Authority (CMA).
The statement added that Al-Eid Food Company is also among the companies currently suspended from trading, as its listing was canceled by a CMA decision.
The cancellation will take effect after the company holds its general assembly meeting, as stipulated in the cancellation decision. The KSE clarified that the deadline for disclosing financial statements is 45 days from the end of each quarter and three months from the end of the fiscal year.
The Kuwait Stock Exchange Company was established in April 2014 and is responsible for managing the operations of the Kuwaiti stock market. Since 2016, the stock exchange has been contributing to advancing communication, growth, and innovation in the securities market, in addition to providing support to the Capital Markets Authority, issuers, investors, and all other stakeholders.
— KUNA
