Almowazi Capital Company has received a license as an unlisted securities broker from the Capital Markets Authority, making it the first electronic broker for shares of unlisted and delisted shareholding companies. 

The company operates through the Over- The -Counter (OTC) trading system under the Boursa Kuwait.

On this occasion, the Chairman and CEO of Almowazi Capital, Mohannad Al-Sanee, confirmed that Almowazi Capital is the first company to offer electronic trading services for unlisted and delisted joint stock companies, in collaboration with its strategic partner, the Kuwait Financial Brokerage Company.

Electronic Trading Application

Al-Sanee highlighted in a press release that the Almowazi Capital trading app has been launched, which allows immediate electronic trading on over 140 companies with ease and convenience. 

This initiative addresses the significant demand from shareholders of these companies for optimal exit alternatives for their investments, as well as providing new investors with the opportunity to invest in these companies with high professionalism. 

Al-Sanee further clarified that the app offers premium services for clients, including stock price records, updated data and information on unlisted companies, as well as news and dates for ordinary and extraordinary general assemblies of these companies.

He added, "The app also provides information on upcoming and past auctions, along with other data and insights that investors need regarding the companies registered on the OTC platform."

Keeping Up with Market Developments

For his part, Raed Boukhmasin, Vice Chairman of the company, emphasized the importance of keeping pace with the advancements introduced by the Capital Markets Authority and the Kuwait Stock Exchange, particularly the launch of a trading platform for unlisted and delisted joint stock companies.

He stated that it is essential to provide modern products that serve both investors and shareholders of these companies, especially since the investment environment in Kuwait features many unlisted joint stock companies, making their shares easier to trade.

He added, "By introducing the unlisted securities trading system (OTC), which the Kuwait Stock Exchange uniquely offers compared to other exchanges in the region, Kuwait becomes a leader in trading this type of companies with utmost transparency and precision."

Words of Thanks and Appreciation

Both Al-Sain and Boukhmasin expressed their gratitude and appreciation to all employees and workers at the Capital Markets Authority, the Kuwait Stock Exchange, and the Kuwait Clearing Company for their professionalism and efforts during the licensing stage of the company and for supporting the digital transformation of companies wishing to provide electronic services in the Kuwaiti financial market.

Board of Directors and Executive Management

The board of directors of Almowazi Capital consists of five members:

Mohannad Al-Sanee as Chairman, Raed Boukhmasin as Vice Chairman, along with members Ali Al-Khazemi, Mahmoud Al-Rifai, and Mohammed Al-Sarraf.
The executive management team is led by CEO Mohannad Al-Sanee and Assistant Vice President Mohammed Al-Rashid.