Capital Markets Authority Lists Sukuk Issued by KFH Tier 1 Sukuk 3 Ltd. on Kuwait Stock Exchange
صورة: وكالة الأنباء الكويتية (كونا)
The Capital Markets Authority approved the listing of KFH Tier 1 Sukuk on the Kuwait Stock Exchange with a value of 200 million dinars.
Translated by Qiyas from كونا — Original source
Kuwait City, 5 Nov (KUNA) -- The Capital Markets Authority (CMA) approved on Thursday the listing of sukuk issued by KFH Tier 1 Sukuk 3 Ltd. on the Kuwait Stock Exchange. In a press release, the CMA stated that both the issuer and the obligor must comply with the provisions 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 amended, as well as the exchange’s rules. This issuance forms part of the first additional tranche of capital worth 200 million Kuwaiti dinars (approximately $650 million USD or its equivalent in other currencies).
The authority added that the listing is in accordance with the conditions and provisions stipulated in the exchange’s rules and the articles mentioned in Book Eleven (Dealing in Securities) 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 amended.
The CMA reaffirmed its commitment to continuously developing and diversifying investable products and instruments for listing and trading in line with global best practices in the Kuwait market.
The CMA’s approval to list the sukuk followed a thorough review of the listing application and verification that all applicable regulatory requirements and controls were met, reflecting the authority’s dedication to upholding 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 tools available to investors. It also reflects a strategic direction to support the growth of the debt market, enhance liquidity, and strengthen Kuwait’s position as an attractive investment destination.
KFH Tier 1 Sukuk 3 Ltd. is a special purpose vehicle (SPV) established as a financial issuance vehicle on behalf of Kuwait Finance House (KFH). Its primary purpose is to facilitate and manage the issuance of capital sukuk for the bank to support its capital base. (End) M.K.A. / A.M.H.
