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OTC Platform Performance - 2023 Overview & Highlights

Almowazi's 2023 OTC Platform Performance report provides valuable insights into the performance of Boursa Kuwait's OTC platform throughout the year. The report is available in both English and Arabic on our website - just click on the links to automatically download the report.

In 2023, the global macroeconomic environment was complex, with economic challenges and geopolitical uncertainties impacting Kuwait's economy and capital market. Despite these difficulties, Boursa Kuwait's Over-the-Counter (OTC) platform showed remarkable resilience and growth, becoming a key avenue for capital raising and investment opportunities.

Since its launch in 2018 with 88 companies, the OTC platform has expanded significantly, reaching 131 registered real-time online trading (hybrid) companies by the end of 2023. This growth is partly due to regulatory changes that required delisted companies to transition to the OTC platform. Additionally, increasing numbers of unlisted companies voluntarily sought hybrid status, recognizing the benefits of enhanced visibility and capital access. The total capital of real-time online trading (hybrid) companies on the platform has increased consistently at an annual rate exceeding 5%, indicating positive market sentiment.

In 2023, the OTC platform saw robust investor engagement, with an active participation rate of 84% from 110 hybrid companies. Sharia-compliant companies represented a notable portion of this activity, accounting for 49% of the total capital of active hybrid companies. Although the total number of deals and share volume decreased, the overall trade value increased, highlighting a strategic shift towards larger transactions driven by merger and acquisition activities.

A total of 328 companies traded on the OTC platform in 2023, with 3.28 billion shares exchanged across 4,905 deals, amounting to KD 234 million. The Holding, Services, and Real Estate sectors dominated trading activity, contributing 76% of total deals, 88% of total volume, and 94% of total value. Notably, the education sector gained traction, with four of the top five hybrid companies based on traded share value focusing on education, indicating a strong investor interest in this area.

Download Almowazi's annual report on the unlisted market (OTC), which provides a detailed overview of the market's performance in 2023, emphasizing key trends and developments that have impacted the industry.​ As the data provider for Boursa Kuwait in this market segment, Almowazi offers a comprehensive centralized database on unlisted, delisted, and OTC companies. ​

Unlisted Companies News - Overview & Highlights - 4 to 8 Aug 2024

Registration of Tameer Real Estate Investment Company (OTC 196) and Al-Massaleh Real Estate Company (OTC68) as real-time online trading (Hybrid) deals on the OTC Platform effective 5 Aug 2024. This brings the total number of companies being traded as real-time online deals to 140 - up from 131 at the end of last year. Both of these companies delisted from the main marke.

Click here for the updated list of 140 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.

Results from previous assembly meetings

OTC 484 Kuwaiti Indian Holding Company announced that it started the distribution of 5% cash dividends to its shareholders. So far this year, less than 250,000 shares in OTC 484 have been traded with a volume weighted average price of 54.3 fils per share. The last deal in the company's shares was at the beginning of June 2024, when trading closed at 46 fils per share.

Kuwait International Investment Holding Company (OTC 469) announced that it began distributing 25% bonus shares to its shareholders 

Following its extra ordinary assembly meeting, OTC 692 Inc Technologies Company has announced a reduction of its authorised, issued, and paid-up capital to KD 1 million. During the meeting, the company decided to continue its operations and reviewed its total losses. For more details about the assembly meeting results, visit our website.

OTC 247 Alshamel International Holding Company, similarly reduced its authorized capital to KD 2.1 million following its assembly meeting.

Upcoming Assembly Meetings

OTC 534 Ilaf Takaful Insurance Company is scheduled to elect a new Board of Directors for the2024 - 2026 term and discuss the recommendation not to distribute cash dividends to shareholders. Refer to the news on our website for more details about the agenda items.

The General Assembly of OTC 363 Mena Capital Holding Company will convene to discuss its financial statements. The agenda for the Ordinary General Assembly includes the following key points:

• Presentation of the Board of Directors' and auditor's reports.
• Review of any violations and penalties imposed by regulatory authorities during the fiscal year ending March 31, 2024.
• Approval of the report regarding transactions with related parties.
• Discussion of the Board's recommendation to forgo bonuses for its members and to release them from financial, administrative, and legal liabilities for the fiscal year ending March 31, 2024.
• Appointment or reappointment of the auditor for the year ending December 31, 2025, with authorization for the Board to set the auditor's fees.
• Additionally, the Extraordinary General Assembly will consider an amendment to Article 43 of the Articles of Association to adjust the company's fiscal year, which will now begin on January 1 and end on December 31, except for the first fiscal year of the amendment, which will run from April 1, 2024, to December 31, 2025.

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 a total of KD 625,625 worth in unlisted shares from 30 companies changed hands. 23.5 million shares were traded across 71 transactions. In contrast, last week, 26 million shares were traded.

16 million shares were traded in OTC 494 North Africa Holding through a single deal at 16 fils per share. This brings the total number of shares traded for the year so far to 39.57 million shares with a volume weighted average price of 12.4 fils per share.

The highest value of trade was in OTC 855 Wara Real Estate. 2.05 million shares were traded this week through 5 deals all at 126 fils per share. This week's trading bring the total number of shares traded in Wara Real Estate for the year to 4 million shares - all traded at 126 fils per share.

For historical trading data on all companies, consult the 'Deals Record' by company and the 'Deals on a date' sections on our website.

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".

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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