KUWAIT CITY, May 1: On Thursday, April 25, 2024, Boursa Kuwait welcomed a distinguished delegation of senior executives from three prominent Chinese enterprises listed on the Hong Kong Stock Exchange (HKEX), alongside one company formerly listed on the New York Stock Exchange (NYSE). These companies, representing robust sectors such as education, basic materials, pharmaceuticals, and industrials.

The visit to the Kuwaiti exchange was organized in collaboration with ARTE Capital Group, an Asia-based asset management firm with headquarters in Hong Kong and offices in Abu Dhabi and Shenzhen. The Chinese delegation showed keen interest in listing on the exchange for their respected companies or the subsidiaries.

The company representatives also hailed the Kuwaiti capital market as an efficient market operating according to internationally accredited best-in-class standards and practices with a reputation as a leader in the region. The companies, who are interested in expanding their business operations into the region, visited the Kuwait Investment Authority (KIA) and the Kuwait Direct Investment Promotion Authority (KDIPA) as well as Boursa Kuwait.

Throughout the visit, the delegates were acquainted with the advantages of Kuwaiti capital market listing opportunities provided by Boursa Kuwait. Additionally, they were briefed on the solutions tailored for international companies, enabling them to list on the Kuwaiti exchange without prior listing requirements in their home countries. Representatives from Boursa Kuwait underscored the exchange’s stringent standards, operational practices, and the comprehensive range of products and services available to investors and issuers.

Moreover, the company consistently advocates for the Kuwaiti capital market through its Corporate Days, Roadshows, and site visits to entities expressing interest in listing. “As part of its commitment to contribute to the diversification and growth of the national economy, Boursa Kuwait continuously seeks to enhance cooperation with international companies and highlight the opportunities provided by the Kuwaiti capital market for both issuers and investors. We were delighted to host representatives of Chinese companies, and we will continue to engage with these companies to encourage their listing,” said Boursa Kuwait’s Head of Markets Noura Al-Abdulkareem.

The visit follows similar such visits ARTE Capital organized for Chinese delegations to the United Arab Emirates and the Kingdom of Saudi Arabia over the past few years. The company plans to raise a US$1 billion ARTE China-Arab Strategic Fund for investment in Chinese companies planning to expand to the Middle East, which ARTE Capital investors will back. Chairman of ARTE Capital Group Mr. Ethan Chan also commented on the visit, saying, “The visit to Boursa Kuwait was very informative, allowing Chinese enterprises to learn more about the regulatory framework, market dynamics, and investment opportunities within Kuwait’s capital market. We look forward to the results of this fruitful collaboration and hope to see more Chinese companies establish themselves in the GCC.

Kuwait’s capital market is undoubtedly an attractive one, and we will continue promoting it to our clients.” ARTE Capital Group is an established investment group with multibillion US dollar asset under management headquartered in Hong Kong. Its affiliates operate under entities regulated by Hong Kong Securities and Futures Commission (HK SFC) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The company’s mission is to foster positive interconnections between the Middle East and China, cultivating strong and lasting partnerships through the principles of sharing resources and mutual growth.

Boursa Kuwait has been a key driver in the development of the Kuwaiti capital market and the diversification of the national economy, in line with the goals of the “New Kuwait” vision. Since its inception, the company has worked diligently to create a thriving capital market that attracts local and foreign investors through a broad spectrum of new products and services, infrastructure upgrades, and market reform initiatives, as part of its multi-phase market development plans.

Boursa Kuwait was fully privatized in 2019, the first government entity in the country to successfully undergo the process, bringing about greater levels of efficiency. It has also been self-listed since September 2020 and has made great strides in sustaining its operations and business continuity in the face of uncertainties and challenges.