KUWAIT: Boursa Kuwait hosted its 8th Corporate Day, organized in collaboration with EFG Hermes, the leading investment bank franchise in Frontier Emerging Markets (FEM), from the 23rd to the 26th of May. The four-day event brought together 13 Kuwaiti companies with more than 175 international investors from over 95 institutions ($2 trillion in AUMs), to discuss and share insights on some of the most compelling opportunities across the Kuwaiti capital market.
Among the takeaways from the 8th Corporate Day was that Kuwait is well-placed for continued growth over the coming period. Kuwait’s increasing importance in Emerging Markets can be traced back to its reclassifications in the world’s leading index providers, which has led to wider investor exposure. Boursa Kuwait remains committed to attracting foreign investments, organizing a series of meetings to raise awareness among international investors about the latest in the Kuwaiti capital market, highlighting the company’s development efforts as well as the opportunities and benefits offered by investing in the companies listed on the stock exchange.
Boursa Kuwait’s Head of Markets Sector Noura Al-Abdulkareem said: “Boursa Kuwait continues to provide opportunities for both companies and investors through its series of Corporate Days. The eighth edition, which was organized by EFG Hermes, reflects the exchange’s role in the growth of the Kuwaiti capital market and the national economy.”
“We were delighted to hold this virtual investor conference with our long-term partner Boursa Kuwait, as this progressive exchange continues to prove it is a market to watch. While global growth is expected to slow down in 2022, emerging markets are a favored destination for investors, driven by economic reform activities and attractive valuations, making Boursa Kuwait an appealing destination. Apart from rising oil prices, investors are drawn to Kuwait’s stock market given the strong consumer recovery after the imposed lockdowns in 2020 and the prospect of IPOs. Government initiatives to push further market reforms that can boost liquidity, such as adding margin trading, have also bolstered the Kuwaiti stock market’s position,” said Mohamed Ebeid, Co-CEO of the Investment Bank, EFG Hermes.
“Volumes continue to rise thanks to strong retail sentiment and rising foreign interest. In 2022, turnover averaged $210 million, up from $179million in 2021 and $144 million in 2020. The current oil price boom and removal of Russia from key EM indices have fueled fresh foreign interest in the market as foreigners net bought $576 million in 1Q22, and $4.2 billion in the past three years,” said Ahmed Waly, Head of Brokerage at EFG Hermes.
“Boursa Kuwait has developed into a leading regional stock exchange that follows international standards and believes in the private sector’s role in advancing the country’s economic development, and we expect it to garner strong results during the coming period,” he added.
Boursa Kuwait’s series of Roadshows and Corporate Days showcases some of the standout listed companies and the investment opportunities that reside in the Kuwaiti capital market. Putting these companies in touch with some of the world’s leading investment firms and financial institutions, the events aim to highlight these companies’ financial health and business strategies and outlooks helping investors gain an in-depth understanding of the benefits and opportunities of investing in Kuwaiti companies.
Since its inception, Boursa Kuwait has worked diligently to create a credible exchange built on efficiency and transparency, creating a liquid capital market, a progressive exchange platform and developing a comprehensive set of reforms and enhancements that has allowed it to compete on an international level. Over the past five years, the company has rolled out numerous market reforms and new initiatives as part of its comprehensive multi-phase market development (MD) plans.