Capital Markets Authority Licenses Kuwait Investment Company to Market European Fund Shares in Kuwait

Under the decision, the company is permitted to market no more than 1.5 million shares of the fund at a variable offering price, based on the net asset value (NAV), in addition to a subscription fee of 2% of the value of subscriptions to shares of the “R1D” or “R1A” classes.

The Authority restricted the share offering to professional clients, with “Kuwait Investment Company” tasked with receiving subscription applications. The license was set for a validity period of one year, commencing from the date of issuance of the license certificate and after payment of the prescribed fees. Payment of the fees is required within one month of the decision’s issuance; otherwise, the decision shall be deemed null and void.