ShareKUWAIT: Boursa Kuwait Securities Company (KPSC) held its Annual General Assembly meeting for the year ended December 31, 2024 on Monday, March 24, 2025 which was chaired by Hamad Mishari Al-Humaidhi, at the Boursa Kuwait building.
During the meeting, the Board of Directors’ recommendation to distribute cash dividends of 82 fils per share was approved, amounting to KD 16,463,611.5 (Sixteen million, four hundred sixty-three thousand, six hundred and eleven Kuwaiti Dinars and five hundred fils). Shareholders registered by the end of the record date of April 14, 2025, will receive their share dividends by the end of April 17, 2025, the company’s scheduled payment date.
The meeting also witnessed the approval of all agenda items, including the Board of Directors’ report, the Auditor’s report, and the audited financial statements for the fiscal year ended December 31, 2024. Additionally, shareholders endorsed the Corporate Governance and Audit Committee reports and approved remuneration for the Board members as well as appointing Sheikha Adnan Al-Fulaij from Ernst & Young – Al-Aiban, Al-Osaimi & Partners as Auditor for the fiscal year ending December 31, 2025.
Boursa Kuwait’s General Assembly also elected the company’s Board of Directors for a new three-year term (2025–2027), resulting in the appointment of:
• Bader Nasser Al-Kharafi – Non-Executive Board Member
• Bader Abdullah Al-Kandari – Non-Executive Board Member
• Talal Jassim Al-Bahar – Non-Executive Board Member
• Khaled Waleed Al-Falah – Non-Executive Board Member
• Jassem Hasan Zainal - Non-Executive Board Member
• Yousef Faisal Al-Mannai – Non-Executive Board Member
• Raed Jawad Bukhamseen – Independent Board Member
• Dalal Jafaar Behbehani – Independent Board Member
Hamad Mishari Al-Humaidhi commented on the occasion, stating: “Despite the geopolitical tensions and economic challenges of 2024, Boursa Kuwait remained resilient and adaptable, delivering a strong recovery that highlights its financial strength and the effectiveness of its strategy. The company recorded a net profit of KD 18.18 million for the fiscal year ended 31 December, 2024, a significant increase of 15.08 percent from the 2023 net profit of KD 15.80 million and its highest on record.”
Al-Humaidhi further highlighted Boursa Kuwait’s exceptional performance over the past year, noting a significant increase in the company’s operating profit, which rose by 22.59 percent from KD 18.27 million in 2023 to KD 22.40 million in 2024. Total assets also grew by 6.11 percent, increasing from KD 118.89 million in 2023 to KD 126.15 million, while shareholders’ equity attributable to Boursa Kuwait’s shareholders increased by 5.17 percent, rising from KD 64.23 million to KD 67.55 million.
In addition, operating revenues saw notable growth as well, increasing by 18.36 percent from KD 30.68 million to KD 36.31 million, while earnings per share (EPS) grew by 15.08 percent, rising from 78.68 fils to 90.55 fils for the fiscal year ended December 31, 2024.
Al-Humaidhi continued, “This year marked a pivotal milestone in Boursa Kuwait’s journey, as the company celebrated its tenth anniversary - a decade of transformative growth and remarkable achievements that have strengthened the Kuwaiti capital market as a cornerstone of the national economy. The company continues to develop the market, enhance sustainability and reinforce its role as an integral cog within Kuwait’s financial ecosystem. Guided by a clear vision and an ambitious strategy, Boursa Kuwait remains committed to contributing to the country’s broader economic vision and firmly establishing itself as the gateway to Kuwait’s economy and the promising opportunities it offers.”
Hamad Mishari Al-Humaidhi expressed his deep gratitude and appreciation to His Highness the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, for his unwavering efforts to ensure Kuwait’s stability, prosperity and the growth of the national economy. He extended his sincere thanks and appreciation to the shareholders of Boursa Kuwait Securities Company for their continued trust and support of Boursa Kuwait and its goals, emphasizing that their contributions have greatly enhanced the company’s position as a prominent financial market in the Middle East and paved the way for sustained growth and prosperity, enabling the company to play a significant role in the diversification and growth of the national economy, contributing substantially toward achieving Kuwait’s vision of becoming a leading financial, cultural and investment hub in the region.
Al-Humaidhi also expressed gratitude to the members of the Board of Directors and Executive Management for their invaluable contributions to the company’s strategic trajectory, highlighting their significant role in elevating and developing Kuwait’s capital market through wise guidance and extensive expertise and extended special appreciation to all Boursa Kuwait employees for their active contributions toward achieving the company’s strategic objectives and long-term aspirations.
Mohammed Saud Al-Osaimi, Boursa Kuwait’s Chief Executive Officer also commented on the company’s results for 2024, saying, “In 2024, the Kuwaiti capital market demonstrated remarkable growth, with traded volume surging by approximately 73.08 percent, from 39.57 billion shares in 2023 to 68.48 billion shares, and the value traded rising by 42.85 percent, from KD 10.38 billion to KD 14.83 billion. Additionally, market capitalization reached KD 43.58 billion, marking an 8.24 percent increase from the 2023 total of KD 40.26 billion.”
Al-Osaimi also highlighted the increase in foreign turnover activity in the market, which increased to 15.5 percent of the total turnover activity in 2024, marking a 27.5 percent increase from 2023’s 12 percent of turnover activity. Meanwhile, institutional investors continued to be key contributors, making up 61 percent of the total turnover in 2024. Al-Osaimi added, “As part of its continuous efforts to increase the issuer base in the market, Boursa Kuwait successfully listed Beyout Investment Group Holding Company in the “Premier” Market. This listing, in addition to the upgrade of two companies from the “Main” Market, brought the total number of companies listed on the company’s flagship market from 31 in 2023 to 34 in 2024 and increased its market capitalization by 11.02 percent from KD 31.82 billion to KD 35.33 billion.”
“The “Premier” Market continued to play a pivotal role in driving market activity, recording approximately 29.31 billion shares traded at a total value of KD 9.78 billion across 1.96 million transactions. This represented 65.93 percent of the total traded value and 42.79 percent of the total traded volume on Boursa Kuwait, reaffirming the “Premier” Market’s position as the main engine of market activity and a preferred destination for investors. Additionally, foreign ownership reached KD 5.30 billion, accounting for approximately 14.93 percent of the market capitalization in the ‘Premier’ Market,” Al-Osaimi said.
Meanwhile, the “Main” Market played a significant role in enhancing overall market liquidity, with a market capitalization of KD 8.25 billion and 109 listed companies. It traded over 39.13 billion shares, valued at approximately KD 5.05 billion across 1.95 million transactions. This accounted for 34.05 percent of the total traded value and 57.14 percent of the total traded volume in the Kuwaiti capital market, highlighting its crucial role in expanding investment opportunities and strengthening market depth. Additionally, the “Main” Market index increased by 24.01 percent in 2024, while the “Main 50” index rose by 24.04 percent.
Al-Osaimi praised Boursa Kuwait’s ongoing efforts to enhance market infrastructure, highlighting the company’s continued collaboration with Kuwait Clearing Company throughout 2024, which included carrying out a series of tests initiated in the previous year to ensure compliance with the requirements of the Central Counterparty Clearing (CCP) system. These efforts also involved verifying the readiness of brokerage firms to handle settlement operations in coordination with the Central Bank of Kuwait and local banks, preparing these firms for qualification under the CCP framework.
The Boursa Kuwait CEO concluded his statement by expressing his sincere gratitude to the Chairman and the Board of Directors for their unwavering support of the company’s strategy and operations, which has played a pivotal role in guiding Boursa Kuwait toward achieving its ambitious goals. Al-Osaimi also extended his heartfelt appreciation to all employees, whose commitment and dedication have been the driving force behind the company’s ongoing series of successes.
He also thanked the Capital Markets Authority, Kuwait Clearing Company, and brokerage firms for their expertise, professionalism, and valuable contributions, which have profoundly impacted all aspects of the market’s development and success. Al-Osaimi reiterated the company’s commitment to expanding its product offerings, improving market efficiency, and enhancing market accessibility and emphasized the company’s strategic pillars of transparency, corporate governance, and enhanced liquidity as fundamental tenets to highlighting leading listed companies, strengthening investor confidence and reinforcing Kuwait’s capital market as an engine of innovation, sustainable growth, and leadership in the region.
