CmaBoardReleases
Title: Press Release: Virtual Awareness Workshop on the “Trading of Pre-Emptive Rights” by the Capital Markets Authority
Kuwait – June 21, 2021 - The Capital Markets Authority (CMA), with the participation of both Boursa Kuwait Securities Company and Kuwait Clearing Company, executed a virtual awareness workshop through Zoom Application on Sunday June 13, 2021 on the topic of “The Trading of Pre-Emptive Rights”.
The workshop witnessed a significant participation of the persons of interest in its topic that were (100) participants, which represent the maximum limit permitted for participation in CMA’s platform. The workshop was executed by Market Readiness Group (MRG) which includes representatives of the CMA, Boursa Kuwait Securities Company, and Kuwait Clearing Company. CMA’s representatives were:
Mr. Khalid Alsahli – Trading Section Manager
Mrs. Dalal Behbehani – Listing and Products Section Manager
Mr. Fuad Al-Ateeqi – Specialist – Head of Markets’ Sector’s Office
Boursa Kuwait Securities Company was represented by:
Mr. Bader Al-Shami – Issuance Services and Development Department Manager
Mr. Ahmad Aljassem – Products Development Department Assistant Manager
The representative of Kuwait Clearing Company was Mr. Duaij Raed Al-Saleh – Acting Deputy CEO - Information Technology Senior Manager - Information Systems Department.
The workshop covered three areas, the first of which was allocated to present the Market Development Program in its four phases that included the changes and outputs of each phase and the latest developments of its implementation. The second area was allocated to discuss “The Trading of Pre-Emptive Rights”, its definition, the methods of its disposition, the benefits and risks related to it, and its trading’s timetable. It ended with a discussion of information related to listing, trading and settling such rights.
The third area of the workshop was allocated to discussing the most prominent legislative amendments related to the trading of Pre-Emptive Rights, especially CMA’s resolutions regarding regulating such rights that included amendments of the provisions of some modules of the Executive Bylaws of Law No. 7 of 2010, in addition to amendments of the relative rules of both Boursa Kuwait Securities Company and Kuwait Clearing Company. The workshop was concluded with answering the enquiries of the participants through the platform.
It is worth noting that this workshop is one of the CMA’s awareness efforts in various issues related to securities activities and the introduction of its projects and directions in general.
-Ends-
Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw