The Kuwait stock exchange has found 11 firms in violation of disclosure rules, a bourse official told Reuters on Wednesday.
The bourse will ban an unidentified number of shareholders in the firms from voting in general assemblies of the companies for two electoral terms or six years, the official, who declined to be named, said after a market committee meeting.
He did not identify the firms.
Regulations stipulate disclosure of stakes of 5% or more in listed firms.
The case draws parallels with that of the family-owned Kharafi Group when the exchange withdrew its voting rights in 10 listed firms for disclosure violations in November.
The bourse also banned the group from using the exchange to trade shares in those companies for two consecutive general assemblies of shareholders.
A court overturned the ban on April 2.
The bourse in December also barred some shareholders in 13 listed firms including Gulf Bank and Ahli Bank from selling shares on the bourse for six years for similar violations.
In addition, the trade and industry ministry named 25 more firms for breaking disclosure rules in February.
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