Three Kuwaiti companies in DFM listing

Following the announcement of the listing of Public Warehousing Company (PWC) on February 15, 2006, two more Kuwaiti companies will follow suit later in February 2006.

Al Mazaya Holding Company, a real estate development company in Kuwait, will list secondary shares on the DFM on February 20th, and National Real Estate Company K.S.C., which is also a Kuwait Public Shareholding company engaged in real estate investments and management, will be listed on DFM on 21st February 2006.

Commenting on the trend, Mr. Essa Kazim, Director General of DFM, said:

"We are delighted to welcome these three Kuwaiti companies to the market. DFM is considered today an attractive market for local and regional investments due to the high liquidity that the market enjoys, which has also contributed to consolidate the market's position among financial markets in the Arab countries. This development also shows the way in which the region's economies and companies are growing in sophistication and maturity."

"The Dubai Financial Market has seen huge growth in investor numbers and interest from across the Gulf countries, in the number of IPOs and in the amount of stocks traded and funds invested," he added.

He noted: "This year will definitely witness the listing of many other companies in different sectors including Telecoms and IT, Financial Services, Transport, Industrial Manufacturing, Conglomerates, Oil and Gas."

Mr. Kazim concluded: "We want to continue to be the market of choice for companies and investors from across the region. To that end, we will continue to invest in leading edge technology and will continue to be responsive to customer requirements."