Unlisted Companies News - Overview & Highlights - 2 to 6 June 2024

OTC 1008 Beyout Investment Holding Group (BIG) is Boursa Kuwait's latest Initial Public Offering (IPO) and newly listed company on the premier market. Its listing follows that of Ali Al Ghanim Sons Automotive KSC in June 2022. From June 11, 2024, BIG shares will be available for trading on the premier market of Boursa Kuwait after experiencing oversubscription during its IPO. Approval from the Capital Markets Authority and Boursa Kuwait has been granted to commence trading of Beyout's shares on June 11, 2024.

During a recent interview with CNBC Arabia, Abdul Rahman Al-Khanna, CEO of OTC 1008 Beyout Investment Group (BIG Holding), revealed that the company has a significant pipeline of contracts lined up for the next four years, totaling to 240 million dinars. Additionally, Al-Khanna disclosed that BIG Holding's revenues surpassed 75 million dinars in 2023.

Boursa Kuwait has further recently announced the delisting of Gulf Petroleum Investment Company, commonly known as PetroGulf, in accordance with the decision made by the Capital Markets Authority (CMA). PetroGulf was given a deadline until March 31, 2024, to address the identified issues by the CMA. However, as PetroGulf failed to meet this deadline, a decision has been issued to delist the company from the main market. More details available here.

OTC 242 Ream Real Estate Company successfully completed an auction, which saw the sale of 21 residential plots in Fnaitees and an investment plot in Maboula. The total value of the transactions from the auction amounted to KD 10.4 million. It is worth mentioning that property prices experienced an increase of 11.1% during this auction. More details regarding the auction results are available as news on our almowazi website. It should be noted that there has been no trading activity in Ream Real Estate's shares thus far this year.

OTC 339 Ahli Capital Investment Company, established in 2006, is a closed Kuwaiti Shareholding Company (K.S.C.C) with a current capital of KD 18 million. Ahli Capital serves as the investment arm of Al Ahli Bank (ABK) and offers a range of services, including asset management, fund management, investment banking, custody services, and advisory services. 

In recent news, Ahli Capital has been appointed by Arabi Holding as its issue manager and subscription agent. Further information regarding this appointment can be found here

As part of its strategy to expand its global presence, OTC 538 EQUATE Petrochemical Company has opened a new office in Shanghai, China. This move aligns with the company's expansion plans in the Chinese market and demonstrates its commitment to increasing its footprint in the region.

Previous Assembly meetings - Feedback and Results

During the General Assembly of OTC 29 The International Investor Company (under liquidation), which took place on May 14, 2024, it was resolved and approved to extend the liquidation period. The liquidator, Abdul Jalil Hussein Hussein, will oversee the completion of the liquidation procedures. The extension period is limited to a duration of three years from the date of notation in the commercial register.

This week 1.1 million shares were traded in The International Investor Company through 3 deals at a volume weighted average price of 2 fils per share.

On Monday, May 20, 2024, OTC 319 Kfic Financial Brokerage Company conducted its extraordinary general meeting, wherein it approved the cancellation of certain licenses for securities activities licensed by the Capital Markets Authority. Specifically, the license being canceled is that of a securities broker not registered on the stock exchange.

Furthermore, the meeting attendees consented to amend the text of Article (5) and Article (4) of the company's Articles of Association.

During the recently held extraordinary general meeting of Al Baghli Industries Holding Company , it was unanimously decided to raise the company's authorized, issued, and paid-up capital. The capital was increased from KD 2.1 million to KD 2.15 millionresulting in a cash infusion of 50 thousand Kuwaiti dinars. This increment was achieved through the issuance of 500,000 shares, with each share having a value of 100 fils.

Upcoming Assembly Meetings

OTC 677 Rasameel Investment Company has officially commenced the nomination process for individuals interested in serving as members of its Board of Directors for the upcoming session. The election of board members will take place during the company's forthcoming regular general assembly meeting. 5 million shares were traded this week in Rasameel Investment Company.

AlDawly Takaful Insurance Company is set to hold an ordinary and extra ordinary assembly meeting in the upcoming week to discuss various topics, including its financial outcomes for the year ending on 31 Dec 2023. Additionally, the board of directors will propose the distribution of 7% cash dividends to shareholders. Read more about the discussion points for the assembly meeting on our website.

OTC 511 Kuwait AlAreen Real Estate Company is set to discuss the recommendations from the Board of Directors not to distribute any cash dividends or bonus shares to shareholders. The election of a new board for the next 3 year term is also on the agenda.

Trading in Kuwait AlAreen's shares closed this week at 10.5 fils per share. So far this year, less than 90,000 shares have been traded in the company's shares with a volume weighted average price of 8.4 fils per share.

OTC 610 Sabaek Real Estate Company is set to hold an assembly meeting to discuss various topics, including its financial outcomes for the year ending on 31 Dec 2023. Limited trading has been done in the company's shares this year. The last significant deal in the company's shares was in Aug 2022 when 18.4 million shares were traded at price of 6 fils per share.

Stay updated with the outcomes of the assembly meetings and any further developments related to the trading, company news and profit distributions by referring to our newsletters and website. Almowazi provides ongoing updates about unlisted, delisted and OTC companies.

Trading Update:

This week's trading marked a promising beginning to June's trading activity, as trading volumes experienced a substantial increase of 55%. A total of 26.4 million shares were traded, surpassing the 17.1 million shares traded in the previous week. Concurrently, the number of deals executed rose from 86 to 138.

Furthermore, the number of unlisted companies where shares were traded also witnessed a significant 53% increase, reaching a total of 49 companies for the week. Despite the active trading observed, the value of the trades experienced a slight decline of 10%, dropping from KD 731,000 in the previous week to KD 655,100.

Active trading took place in the shares of OTC 208 Mushrif Trading Contracting this week, with 10 deals executed. A total of 836,96 shares were traded in Mushrif, with trading concluding at 3.3 fils per share by the end of the week. The volume weighted average price of this week's trading was 2.6 fils per share.

Following the 7 deals done this week in the shares of OTC 202 Jeeran Holding Company trading closed at 110 fils per share and a volume weighted average price of 104.4 fils per share. So far this year, 1.34 million shares have been traded in Jeeran Holding with a volume weighted average price of 128.2 fils per share through 29 deals.

Similarly to the previous 2 weeks, active trading was observed in OTC 232 ALBAREEQ HOLDING CO. with another 398,8806 shares traded through 7 deals. The closing price was slightly lower this week at 10.5 fils per share compared to 11 fils per share last week. So far this year, 5.8 million shares have been traded in AlBareeq Holding with a volume weighted average price of 8.4 fils per share.

Refer to our website for details of previous actions as well as upcoming auctions. The next auction is scheduled for the 9th of June 2024.

Almowazi, a source for historical trading data on unlisted, delisted and OTC companies, provides detailed information about deal dates, volume of shares traded, and transaction prices.

For a detailed analysis and to dive deeper into these trading highlights, please visit our website, where you can access real-time trading data as well as historical trading data for the market as well as by company.

Real time information about other Private deals (Negdeals) conducted through Kuwait Clearing Company (KCC) is only available on www.almowazi.com as part of the Live Market Watch subscription. Summary information is available on the home page under the tab "Off market Neg deals".

Click here for the updated list of 137 companies being traded as Hybrid deals - companies are sorted by OTC code. The latest joiners have been indicated in green while new hybrid companies since the beginning of the year are indicated in turquoise.

Prices as noted in this update refer to Real time information transmitted by Boursa Kuwait in accordance with the terms and conditions of Almowazi's License Agreement.

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