VOL. XLIII

No. 49

4-December-2000

KUWAIT

KIA To Sell Off $2.7Bn In Local Equity Shares Early Next Year

The Kuwait Investment Authority (KIA) announced on 22 November that it intends to divest its holdings in 19 local equities as of the beginning of next year a process of privatization originally started in 1994 but slowed in 1997 when the stock market started to fall. Speaking to the Kuwaiti daily, Al-Watan, KIAs Managing Director, Salih Mubarak al-Falah, explained that the organization intends...