Kuwaiti companies incorporated as Public Shareholding Companies shall submit a Listing Application of their Shares in the Exchange to the Authority within the company’s second financial year. Kuwaiti Closed Shareholding Companies with an approval from the Authority to increase its capital or offering its Shares through a Public Offering shall submit a Listing Application on the Exchange to the Authority subsequent to the completion of the subscription process, otherwise, the Authority may request the concerned official entities to cease the activities of the company. However, companies completely owned by the government are exempt from submitting a Listing Application.