VIVA's Kuwait Stock Exchange listing welcomed by analysts

GMT 18:21 2014 Sunday ,31 August

Arab Today, arab today VIVA's Kuwait Stock Exchange listing welcomed by analysts

VIVA mobile operating firm
Kuwait - KUNA

The easing of conditions by the state Capital Markets Authority (CMA) which allowed mobile operating firm, VIVA, to list itself on the Kuwait Stock Exchange on Sunday has been welcomed by several analysts.
The move will open the door for similar approvals as Kuwait plans to station itself as a regional commercial and investment hub through further development in these domains, they commonly viewed.
Through the listing, the company which made huge losses in the first three years since it began operating in 2008 has been able to recover and increase its profits from KD 4 million in 2012 to KD 24 million in 2013.
The distribution of its shares among the Kuwaiti public also represents an important social factor, as many locals were looking forward to reaping the benefits of the progressing company, said Ali Al-Nemash.
Moves like these should be encouraged as they are around the world, he said, expressing his support of the pressure that was being practiced for pre-conditions related to listing in the Kuwaiti market to be eased.
This was a problem that was facing many companies that were hoping to enter the stock market, said Adnan Al-Dulaimi.
The new CMA formation has made this all possible, he said, expressing optimism for the future amid the returning confidence in regulatory bodies in the country.
Meanwhile, Mohammad Al-Tarrah viewed that the moves go hand-in-hand with development projects currently being pursued by the government.
And if the move helps companies in being further productive then this reflects positively on the economy of the country as a whole, he added.

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