The Kuwait Capital Markets Authority has authorized Al Watani Investment Company to market privately in Kuwait up to 15 million shares in Islamic Leasing and Finance Fund 45 Ltd., a collective investment scheme established in the Cayman Islands. The offering is restricted to professional clients, with shares priced at USD 10 each and a one-time subscription commission of up to 2.25% of the invested amount. Al Watani Investment Company and the National Bank of Kuwait may receive subscription applications. The marketing license will run for one year from the issuance of the authority’s license certificate after payment of the required fees. Those fees must be paid within one month of the decision or the authorization will be treated as void.
Kuwait Capital Markets Authority licenses private marketing of 15 million Islamic Leasing and Finance Fund 45 shares
The Kuwait Capital Markets Authority has licensed Al Watani Investment Company to market privately up to 15 million shares in the Cayman Islands-based Islamic Leasing and Finance Fund 45 Ltd. The USD 10 shares may be offered only to professional clients, with a one-time subscription commission of up to 2.25%.