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Kuwait picks EY to value stock exchange for potential listing-sources

“DUBAI, June 4 (Reuters) – Kuwait has picked accounting firm EY to do a valuation of its stock exchange, sources familiar with the batter told Reuters on Sunday” writes Finanzen Net Gmbh for Such a move would open the way for an international exchange operator such as Nasdaq OMX or Euronext to take a stake in one of the Middle East’s oldest stock markets.One of the sources said a committee that is awarding contract for the valuation of the exchange will meet this week.Under a law passed in 2010, the CMA is supposed to offer 50 percent of the shares to Kuwaiti citizens and 50 percent to ten companies already listed on the stock exchange.

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