LOC10:29
07:29 GMT
KUWAIT, May 19 (KUNA) -- Kuwait's Over the Counter Market (OTC) witnessed a 99.29 percent plunge last week, when compared to the previous week.
Total trading reached 760,400 shares at a value of KD 83,700 (around USD 276,21) done through 22 transactions.
OTC report, issued on Sunday, indicated that 'immediate' transactions had a positive performance, with trading reaching 301,300 shares, at a value of KD 6,020 (around USD 19,800) done through 12 transactions.
As for 'private' transactions, trading was negative during the week with 459,050 shares exchanging hands, valued at KD 77,700 (around USD 256,410) through 10 transactions.
Boursa Kuwait had launched OTC as a new trading platform for those companies that are not listed in 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 adopts the clearing and settlement procedures. (end)
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