Capital Markets Authority Lists First Issued Sukuk in the Stock Exchange
Press coverage 2 newspapers covered this event: Al-Jarida · Al-Nahar →Capital Markets Authority approves listing of KFH Tier 1 Sukuk 3 in Kuwait Stock Exchange
Translated by Qiyas from الأنباء — Original source
The Capital Markets Authority approved the listing of sukuk issued by KFH Tier 1 Sukuk 3 Limited on the Kuwait Stock Exchange. In a press statement, the Authority said that both the issuer and the obligor are committed to applying the provisions set out in the Executive Regulations of Law No. (7) of 2010 concerning the establishment of the Capital Markets Authority and the regulation of securities activities, as well as their amendments, and the Exchange’s rules. This issuance forms part of the first additional tranche of capital worth 200 million Kuwaiti dinars (approximately 650 million US dollars or its equivalent in other currencies).
It added that the listing is in accordance with the conditions and terms stipulated in the Exchange’s rules and the articles mentioned in Book Eleven (Securities Trading) and Book Twelve (Listing Rules) of the Executive Regulations of Law No. 7 of 2010 concerning the establishment of the Capital Markets Authority and the regulation of securities activities, as well as their amendments.
The Authority emphasized its continued efforts to develop and diversify investable products and instruments eligible for listing and trading in line with global best practices in the Kuwait market.
It is worth noting that the Authority’s approval to list the sukuk came after studying the listing application and verifying compliance with applicable regulatory requirements and controls, reflecting the Authority’s commitment to applying the highest regulatory standards and enhancing the efficiency and integrity of listing operations at the Exchange.
This marks the first listing of sukuk on the Kuwait Stock Exchange, representing a significant milestone in the development of the debt instruments market in Kuwait and the diversification of financial instruments available to investors. It also reflects a strategic direction to support the growth of the debt instruments market, enhance liquidity, and strengthen Kuwait’s position as an attractive investment destination.
KFH Tier 1 Sukuk 3 Limited is a special purpose vehicle (SPV) established as a financial issuance vehicle on behalf of Kuwait Finance House, with its primary purpose being to facilitate and manage the issuance of capital sukuk for the bank to support its capital base.
