Kuwaiti bourse suspends 22 firms
Monday, 17 May 2010
KUWAIT CITY, May 16 (AFP): The Kuwait Stock Exchange Sunday suspended trading in stocks of 22 listed firms for failing to declare their first quarter results on time.
A statement posted on the KSE website said the companies -- 15 of which are investment firms hit by the global financial crisis -- failed to announce first quarter results within the stipulated 45 days.
The suspensions will end once companies announce results, it said.
KSE, the second-largest Arab stock market in terms of market value, has around 210 listed Kuwaiti and Gulf companies.
Among the suspended firms are troubled Investment Dar and Global Investment House.
A statement posted on the KSE website said the companies -- 15 of which are investment firms hit by the global financial crisis -- failed to announce first quarter results within the stipulated 45 days.
The suspensions will end once companies announce results, it said.
KSE, the second-largest Arab stock market in terms of market value, has around 210 listed Kuwaiti and Gulf companies.
Among the suspended firms are troubled Investment Dar and Global Investment House.