The Kuwait Capital Markets Authority issued a Disciplinary Board decision imposing a financial penalty on Privatization Holding Company for failing to disclose material information, breaching the disclosure and transparency requirements. The breach relates to Article (4-1-1) of Module Ten (Disclosure and Transparency Rules) of the Executive Bylaws of Law No. 7 of 2010, after the company did not disclose to Boursa Kuwait or the Authority the material information concerning the sale of part of its shareholding in a company on 3 July 2024 for KD 4,077,621, which generated a profit of KD 542,917. The Authority stated that the information had still not been disclosed when reviewing the company’s interim financial statements for the period ending 30 September 2024, and imposed a penalty of KD 1,000 under Disciplinary Board Resolution No. 84/2024 (Authority Resolution No. 112/2024).
Kuwait Capital Markets Authority 2025-05-19
Kuwait Capital Markets Authority fines Privatization Holding Company KD 1,000 for disclosure and transparency breach
The Kuwait Capital Markets Authority imposed a KD 1,000 penalty on Privatization Holding Company for breaching disclosure and transparency requirements by failing to disclose material information about a shareholding sale. The breach involved Article (4-1-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010, as the company did not report the sale to Boursa Kuwait or the Authority, despite generating a profit of KD 542,917.