Boursa Kuwait has announced that, based on a notice from the Ministry of Justice – General Directorate of Enforcement, an auction will take place on Wednesday, June 18, 2025, for the sale of listed and unlisted securities via the electronic auction market. The sale is in favor of the Ministry of Justice – Enforcement Directorate to settle a debt of KD 881,398 owed by Khaled Jafar Mohammed Al-Sayegh.
The selling party is Middle East Financial Brokerage Company, which is responsible for adhering to Boursa Kuwait’s rules, the Executive Regulations of Law No. 7 of 2010 concerning the establishment of the Capital Markets Authority and the regulation of securities activity, and any amendments thereto. The sale will be conducted under Chapter Twelve of Boursa Kuwait Rules.
Unlisted Securities for Sale:
- OTC# 230 Network Holding Company – 20,000 shares
The auction will be conducted via the electronic auction market for unlisted securities, and bidding will take place through the submission of buy orders on this platform.
Auction Procedure:
- First Auction Session: Starts at 10:00 AM with a base price of 500 fils per share.
- If unsold in the first session, a second session will begin five minutes later, at a reduced base price of 100 fils per share.
- If the shares still remain unsold, a third session will begin five minutes after the second session, with no base price.
The auction will be awarded to the highest bidder for the full quantity of shares offered.