Kuwait Stock Exchange is planning to sell a stake in its stock exchange. The Capital Markets Authority (CMA) is conducting studies for the Initial Public Offering (IPO) through the end of April, Vice Chairman Mishaal Al-Usaimi told Bloomberg TV. “From that we will have a very clear timeline taking us to the IPO, but we are hopeful that we will complete that by the end of the year.” The share sale in the exchange will consist of an offering as much as 50% to the public and up to 24% to state entities, the CMA said last month. It also hired a consortium led by Tri International Consulting Group to advise on selling as much as 44% of Boursa Kuwait to a foreign exchange operator. Two or three companies may sell shares through IPOs that could raise about KWD 80 million this year, the exchange’s Chief Executive Officer Khaled Abdulrazzaq AlKhaled said at a conference in Dubai. The bourse also plans to start the second phase of reforms on April 1, 2018, which will include separating equities into three categories based on market capitalization and trading volume, he said.