Kuwaiti firms say bourse decisions endanger economy

0 Comments | AFP, October, 2007

KUWAIT CITY (AFP) — Forty-three of the 190 firms listed on the Kuwait Stock Exchange made an unprecedented protest on Wednesday about decisions by the bourse's management they said was detrimental to the economy.

The companies, which include firms owned by major merchant families, published a joint advertisement in the press criticising several steps recently taken by the bourse.

These included suspending trading of some stocks, allowing listed firms to raise capital on only three occasions during the life of the company and refusing requests to list firms without specifying reasons.

The latest measure was a decision by the bourse committee this week to suspend trading in stocks of firms if they had merged with companies whose requests for listing were...