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Thu 23 Oct 2014 01:22 PM

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Kuwait bourse cancels trades in Kuwait Investment Co, Zain

Kuwait Stock Exchange says trading in shares will resume on Sunday

Kuwait bourse cancels trades in Kuwait Investment Co, Zain

The Kuwait Stock Exchange cancelled all trades in the shares of Kuwait Investment Co and Zain that had taken place on Thursday before it suspended the stocks at mid-session, it said in a statement.

Kuwait Investment Co surged 7.6 percent after the Kuwait Investment Authority (KIA) said late on Wednesday that it would offer its stake in the firm to the public in the first half of 2015.

The KIA also said it would sell its stakes in telecommunications firm Zain and Kuwait Finance House at a later time. Zain rose 1.6 percent after the opening, while trading in Kuwait Finance House had already been suspended pending the publication of quarterly earnings.

The bourse, which has asked the KIA for more details of its plans, said trading in Kuwait Investment Co and Zain shares would resume on Sunday.

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