CMA LAW: Press Release: Suspension of Trading of Kuwait & Gulf Link Transport Company (KGL) Shares Listed in Boursa Kuwait Securities Exchange

Kuwait, December 30, 2025 – In pursuit of the continuous efforts of the Capital Markets Authority (CMA) to protect investors from any actions or behaviors that the security may be exposed to that may violate Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and amendments thereto, and in implementation of the provisions of the mentioned Law and its Executive Bylaws, the CMA Board of Commissioners issued in its meeting No. (47) of 2025 held on 30/12/2025  a Resolution stipulating the following:

First: The shares of Kuwait & Gulf Link Transport Company (KGL) listed in Boursa Kuwait Securities Exchange are hereby suspended from trading as of 31/12/2025, pursuant to the provision of Item No. (4) of Article 1-20 of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and amendments thereto, which stipulate the following:

“The Authority may temporarily suspend trading in the Exchange, and suspend the trading of any Security listed in the Exchange in any of the following cases:
……………………..

4. If the Issuer fails to submit any data or documents required by the Authority within its regulatory scope.”

This will continue until the Company submits the documents related to the settlement agreements and related contracts that impact the financial statements ending on 31/12/2024, of Kuwait & Gulf Link Transport Company (KGL). The documents required by the CMA are as follows:

1. Settlement agreements supporting the transfer of a portion of the investment in an associate company – KGL Logistics (K.S.C.C.), as provided in the Explanatory Memo No. (7) of the company's financial statements ending on 31/12/ 2024.

2. Lease contracts for the right-of-use holdings that support the change of balances according to this item, as provided in the Explanatory Memo No. (6) of the company's financial statements ending on 31/12/ 2024.

The aforementioned documents, and any other data requested by the CMA, shall be provided no later than 01/02/2026.

Second: The continuation of listing the shares Kuwait & Gulf Link Transport Company (KGL) in Boursa Kuwait Securities Exchange shall be reviewed in the event that the Company fails to meet the CMA’s regulatory requirements stipulated in Article (1) of this Resolution. 

Third: Kuwait & Gulf Link Transport Company (KGL) shall provide the CMA with a weekly report on the updates and measures taken to address the suspension of trading its shares listed in Boursa Kuwait Securities Exchange, as of the issuance date of this Resolution. 

In conclusion, the CMA confirms that it will continue its regulatory role in protecting investors, which will also create a fair, competitive, and transparent financial market, as well as reduce the systemic risks that are expected to occur in securities activities and working to ensure compliance with laws and regulations related to securities activities.

Ends-
Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of the CMA's Law.

Furthermore, the Law stipulates the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs pertaining to securities activities.

For further information, please contact:
Public Relations & Media Office
Tel: 1888898
Email: pr-media@cma.gov.kw
 

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