Kuwait’s Capital Markets Authority has authorized Watani Investment Company to privately market 50 million shares of Leasing and Finance Fund 56 Ltd., a collective investment scheme established in the Cayman Islands. The offering in Kuwait is restricted to professional clients as defined in the authority’s executive regulations. The offer price is USD 10 per share, plus a subscription commission of up to 2.25% of the amount invested, payable once upon subscription. Watani Investment Company and National Bank of Kuwait will receive subscription applications. The marketing license runs for one year from issuance of the authority’s licensing certificate, subject to payment of the prescribed fees. The fees must be paid within one month of the decision’s issuance, otherwise the authorization will be void.
Kuwait Capital Markets Authority approves private marketing of 50 million Leasing and Finance Fund 56 shares
Kuwait’s Capital Markets Authority has permitted Watani Investment Company to privately offer 50 million shares in the Cayman Islands fund Leasing and Finance Fund 56 Ltd. to professional clients in Kuwait. The price is USD 10 per share, with a subscription commission capped at 2.25% of the amount invested. The marketing license lasts one year from certificate issuance, and the prescribed fees must be paid within one month of the decision to avoid cancellation.