Sustainable Stock Exchange of the Year and CEO of the Year – Middle East 2022 –
Established in 2014, Boursa Kuwait is the operator of the Kuwait Stock Exchange, the national stock market of Kuwait. Since 2016, it has been responsible for driving engagement, growth and innovation in the Kuwaiti capital market, while supporting the Capital Markets Authority, issuers, investors and various other key stakeholders. Since its inception, the company has played a pivotal role in the development of Kuwait’s capital market and the diversification of the national economy, in line with the goals of the “New Kuwait 2035” vision.
Guided by a mission-driven strategy that focuses on developing the market in line with international standards, Boursa Kuwait has successfully introduced innovative investment tools, reinforced transparency, and restructured the market to increase its competitiveness and liquidity. The company’s market developments and enhancements have contributed to the reclassification of the Kuwaiti capital market to “Emerging Market” status in the world’s top three indices, strengthening Kuwait’s position as a leading financial center in the region.
A trailblazer in Kuwaiti privatization, Boursa Kuwait underwent a privatization process over two stages, the first in February 2019, when a 44% equity stake was awarded to an international exchange and a group of Kuwaiti investment companies in early 2019. In December 2019, the privatization process was finalized after the initial public offering of the Capital Markets Authority’s 50% stake in the company was offered to Kuwaiti citizens, with an oversubscription rate of 850 percent making Boursa Kuwait the only stock exchange in the Middle East owned by the private sector.
In September 2020, Boursa Kuwait self-listed on the “Premier Market”, and is one of the government entities in Kuwait to successfully undergo privatization. With a growing market capitalization of approximately KD 41.40 billion as of 31 December 2021, the exchange currently stands as the third largest stock exchange in the GCC and the home for a total of 167 listed companies.