OTC trades rise to 31.5 mln shares last week

KUWAIT, Trades on over the counter platform (OTC) developed by Boursa Kuwait saw a rise with 31.5 million shares traded last week, with a value of KD 215,6 thousand through 37 deals last week.

According to a report released by Al-Mowazi company on Sunday, the immediate trades screen saw positive trading of 719,3 thousand shares worth KD 43.3 thousand, done through 24 deals.

Private deals reached 30.8 million shares worth about KD 172,2 thousand through 13 deals, it said.

OTC was established to serve investors looking to trade in unlisted securities, with a main focus on creating a new, credible and transparent investment system.

In the Past, Trading of unlisted securities was a manual process characterized by shortfalls and lack of transparency. Investors usually expressed concerns about the seriousness of the buying/selling process, the credibility of prices and difficulty of clearance on executed trades. (USD=KD 0.303).

Source: Kuwait News Agency