The Kuwait Capital Markets Authority has authorized Kuwait Financial Centre to market privately in Kuwait 45,000 shares in MKZ Development 62, a collective investment scheme established in the Cayman Islands. The shares may be offered only to professional clients at USD 1,000 per share, with Kuwait Financial Centre responsible for receiving 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. The fees must be paid within one month of the decision or the authorization will be treated as void, while the scheme’s investment objectives will be governed by its prospectus.
Kuwait Capital Markets Authority licenses private offering of 45,000 MKZ Development 62 shares to professional clients
The Kuwait Capital Markets Authority has licensed Kuwait Financial Centre to market privately 45,000 shares in Cayman Islands-based MKZ Development 62 at USD 1,000 per share. The offer is restricted to professional clients, and the license will run for one year after certification and payment of the required fees.