LOC10:24
07:24 GMT
KUWAIT, March 24 (KUNA) -- Kuwait's Over the Counter Market (OTC) witnessed a 42-percent decline last week, when compared to the previous week.
Total trading reached three million shares at a value of KD 200,000 (around USD 660,000) done through 73 transactions.
OTC report, issued on Sunday, indicated that 'immediate' transactions recorded a positive performance during the week, with trading reaching two million shares, at a value of KD 142,400 (around USD 469,920) done through 60 transactions.
As for private transactions, trading was negative despite the increase in trade value with shares traded reaching one million valued at KD 57,500 (around USD 189,750) through 13 transactions.
Boursa Kuwait had launched OTC as a new trading platform for those companies that are not listed on the bourse.
OTC transactions are carried out through licensed brokerage offices working under Capital Markets Authority bylaws and Boursa Kuwait regulations.
The fresh market aims to create a transparent environment by bringing buyers and sellers together using fully supervised mechanisms. The trading platform will adopt the clearing and settlement procedures. (end)
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