Informed sources reported that North Azzour First Energy and Water Company has resumed its listing procedures in the Boursa (Premier Market), as it is currently working to fulfill the technical requirements to activate the approval of the Capital Markets Authority issued regarding listing.
The sources expected that the company's shares will be officially listed on the stock exchange next August, as an initial date, pointing out that there is a package of requirements that must be met during the next few period, including 10 basic requirements that are:
- Signing the listing agreement and the company’s membership with the Kuwait Stock Exchange, and this agreement will remain in effect during the company’s listing period and in accordance with the criteria contained in the listing rules.
- Submit the latest audited financial statements to verify the financial position of the company, and whether there has been any change during the past months.
- Identify the person responsible for the disclosure?
- Payment of listing fees according to the schedule approved by the responsible authorities.
- Submit a statement that includes the largest shareholders who own 5 percent or more of the capital.
- Determine the company conformity and compliance officer in accordance with the criteria approved by the "Markets Authority".
- Defining the name on which the company will be listed in the first market (in Arabic and English).
- Submit the last register for the shareholders.
- Submit the most recent financial evaluations of the company and its shares, according to the applicable controls.
- List of current board members.
- A pledge issued by the Board of Directors to abide by the rules of the stock exchange.