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KIC General Assembly amended its articles of incorporation to additionally become a Market Maker

Nov-14-2021

KIC General Assembly amended its articles of incorporation to additionally become a Market Maker

Dr. Al-Ali, Chairman of the Board of Directors: "The new activity, is a great addition to the Kuwait Investment Company with its strong credit and a wide range of distinguished clients."

The General Assembly of the Kuwait Investment Company agreed, during its meeting Tuesday November 9, to amend some articles in the articles of incorporation and articles of association, most notably adding the activity of a market maker within the purposes for which the company was established and adding the power of arbitration and reconciliation within the work of the company's Board of Directors.

On this occasion, Dr. Yousef Al-Ali stated that the company has made great and continuous efforts to achieve this transformation in its activities, and to be a market maker in which it exercises its role in proportion to its size and strength in the market. He added that the company will continue its efforts to complete the procedures for this transformation in cooperation with the relevant authorities in this regard, such as the Capital Markets Authority and the Kuwait Stock Exchange, in order to provide the service of a "market maker" officially.

Dr. Yousef Al-Ali said that KIC's role as a market maker will constitute a great addition to the market and consolidate its role as a large company with a strong and distinguished presence in the local market, with its strong balance, a wide range of distinguished clients, and a long experience that extends for more than sixty years in the Kuwaiti economic activity.

Dr. Yousif Al-Ali pointed out that serving the activity of the market maker is a cornerstone of the work system in the stock market and contributes to diversifying investment options for companies and investors and contributes to attracting more local and foreign investment.

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