The Kuwait Capital Markets Authority has authorized Watani Investment Company to privately market 50 million shares in Leasing and Finance Fund 54 LTD, a collective investment scheme established in the Cayman Islands. The offering in Kuwait is restricted to professional clients, with shares priced at USD 10 each.
The offering carries a subscription commission of up to 2.25% of the invested amount, payable once upon subscription. Watani Investment Company and National Bank of Kuwait will receive subscription applications. The marketing license lasts one year from issuance of the authority’s license certificate, subject to payment of the prescribed fees. Those fees must be paid within one month of the decision’s issuance, otherwise the decision will be deemed void.