Boursa Kuwait launched the Emerging Companies Market on the 14 December 2025, marking a notable development in the Kuwait’s capital markets framework.
This launch reflects coordinated regulatory action by the Capital Markets Authority (CMA) and Boursa Kuwait, including CMA resolution No. 108 of 2025 and Boursa Kuwait Resolution No. 2 of 2025, which together established the Emerging Companies Market and its relevant listing requirements, conditions, and obligations.
The Emerging Companies Market introduces a dedicated listing venue for small and medium-sized companies that meet Boursa Kuwait’s eligibility requirements. Key features include:
- Companies seeking admission are subject to ongoing requirements, including:
- a minimum market capitalization of KWD 750,000;
- a free float of not less than 20% of the company’s share capital;
- a minimum of 20 shareholders, each holding shares with a value of at least KWD 5,000; and
- conducting activities in line with the company’s constitutional documents, with the majority of its profits derived from those activities
- Listed companies must outsource the compliance officer function to a qualified external service provider.
- Companies are largely exempt from the the corporate governance requirements set out in Module 15 (Corporate Governance) of the CMA Bylaws, while remaining subject to additional, market-specific board obligations.
- Transferring from the Premier Market, Main Market or Auction Market to the Emerging Companies Market are prohibited.
ASAR’s Capital Markets Team advises companies considering admission to the Emerging Companies Market on eligibility, structuring, regulatory compliance, and ongoing obligations. For guidance, please contact Ibrahim Sattout (Partner) and Hussein Azmy (Senior Associate).
