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Kuwait’s Capital Markets Authority (CMA) has relaxed some capital rules for joint stock companies wishing to list on the Kuwait Stock Exchange (KSE) in a bid to encourage firms to raise funds and broaden their shareholder base. The new regulations are part of a series of measures aimed at boosting activity on the sluggish KSE.
Also the regulations are aimed at enhancing the principles of competition and transparency in the bourse and clamping down on shady transactions. They are compatible with the unified GCC rules for listing on their stock markets.
Companies approved to list on the bourse may now raise their capital by a public share issue in order to help them finance their projects and other strategic policies. But these companies should first have a fully paid up share capital of a minimum of KD10mn ($35mn). (CONTINUED - 287 WORDS)