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Bloomberg
The Kuwait Stock Exchange is delaying the listing of its shares due to restrictions on work triggered by the coronavirus pandemic.
The listing, scheduled for April 19, has been postponed until further notice “due to exceptional circumstances that are imposed by the spread of the coronavirus pandemic,†the bourse said in a statement.
The coronavirus outbreak has disrupted business in the region, with countries imposing varying degrees of lockdowns. Among the major deals delayed are Kuwait Finance House KSCP’s $8.8 billion merger with Bahrain’s Ahli United Bank BSC.
The postponement comes after index compiler MSCI Inc.’s delay of the bourse’s upgrade to its emerging markets category to November from May. The index tracking major Kuwaiti shares retreated 28% this year.