Company shares began trading on Sunday, August 3, 2008, under the trading symbol "KFIC," which will appear on DFM screens, trading systems and publications.
òMs. Sana Juma, CEO of Kuwait Finance & Investment Company; and Mr. Nasser Al Shaali, Board Member of Dubai Financial Market, attended the listing ceremony along with senior members of DFM and Kuwait Finance & Investment Company.
The listing of ordinary shares of Kuwait Finance & Investment Company was finalised and approved by DFM in collaboration with the Emirates Securities and Commodities Authority (ESCA).
Dual listing the company's shares on the Kuwait Stock Exchange and DFM will give UAE investors greater access to Kuwait Finance & Investment Company's shares and enhance their ability to trade them.
The company's authorised capital and paid-up capital is KD41,930,970.
The company has issued 419,309,704 shares, with each share valued at a par value of Kuwait 100 fils.
"As a leading regional bourse with a proven track record of successful cross-listings, DFM offers an ideal platform for KFIC to introduce its investors to the active equity markets of the UAE and provide them more avenues to maximise trading opportunities," Mrs. Juma said.
"Dubai and the UAE is home to a sophisticated investor community that values companies with strong fundamentals and a pro-active approach to capital raising activities. The addition of KFIC will surely be welcomed by the investor community in Dubai, while enabling KFIC to tap into liquidity in the region."
Al Shaali said: "This cross-listing signals a further strengthening of ties between two important bourses in the Gulf, and the economies of the UAE and Kuwait. As the regional bourse of choice among leading companies looking to expand their trading options, DFM continues to offer the best access to the vast investor community of Dubai and the UAE.
"Since the launch of DFM's initiative to encourage cross-listings, an increasing number of companies have expressed their interest to avail of this opportunity to be a part of the phenomenal economic landscape of the Emirates, which is well reflected in the performance of the DFM. We look forward to more such valuable listings from Gulf's leading companies."
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Kuwait Finance & Investment Company debuts on Dubai Financial Market
- United Arab Emirates: Sunday, August 03 - 2008 at 15:50
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Dubai Financial Market (DFM) today announced the listing of Kuwait Finance & Investment Company (KFIC), incorporated in Kuwait.
From right to left: òMs. Sana Juma, CEO of Kuwait Finance & Investment Company; and Mr. Nasser Al Shaali, Board Member of Dubai Financial Market.
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Posted by Eman HassanSunday, August 03 - 2008 at 15:50 UAE local time (GMT+4)
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About Kuwait Finance & Investment Company: Kuwait Finance & Investment Company (KFIC) is a Kuwaiti shareholding company incorporated under the Commercial Company Law No. 15 of 1960 and amendments thereto (C.R.80279). The company is registered with the Central Bank of Kuwait as an Investment Company with a license to conduct business in financial and investment sectors. KFIC is listed on the Kuwaiti Stock Exchange since 28th July 2003 under the symbol "KFIC".
KFIC was initially incorporated on the 27th March 2000 under the name Kuwait Financing Services Company with a license to engage in providing financing services only. In 2003, KFIC underwent a change in ownership structure and business strategy aiming to provide investment services to augment its flourishing financing services. This was realized on the 19th April 2004 when its application to include investment services was approved by the Central Bank of Kuwait.
Since its incorporation, KFIC has grown by implementing a number of capital increases for a total current capital of KD41.931m, the equivalent of $158.230m.
About Dubai Financial Market: Dubai Financial Market (DFM) was established as a public institution having its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000
For further information, please contact:
Ghaleb Zeidan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3355969
Fax: +971-4-3344556
KFIC was initially incorporated on the 27th March 2000 under the name Kuwait Financing Services Company with a license to engage in providing financing services only. In 2003, KFIC underwent a change in ownership structure and business strategy aiming to provide investment services to augment its flourishing financing services. This was realized on the 19th April 2004 when its application to include investment services was approved by the Central Bank of Kuwait.
Since its incorporation, KFIC has grown by implementing a number of capital increases for a total current capital of KD41.931m, the equivalent of $158.230m.
About Dubai Financial Market: Dubai Financial Market (DFM) was established as a public institution having its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000
For further information, please contact:
Ghaleb Zeidan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3355969
Fax: +971-4-3344556
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