The Capital Market Authority (CMA) announced that it has granted a license to Watani Investment Company (NBK Capital) to market 15 million shares of Islamic Leasing and Finance Fund II (EUR) Ltd as a private subscription in the State of Kuwait. The Fund was incorporated in the Cayman Islands. 
According to the statement issued on Thursday, the offering price shall be EUR 10 per share, in addition to a 2.25% subscription fee paid once upon subscription. The marketed units shall be offered only for professional clients in the State of Kuwait.
The parties receiving the subscription applications are Watani Investment Company (NBK Capital) and National Bank of Kuwait (NBK).
The marketing license term is one year renewable annually from the issuance date of CMA’s license, and after paying the prescribed fees.
The prescribed fees shall be paid within one month of the date of issuance of this Resolution. In case of default, this Resolution shall be considered null and void. The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette.
It is worth noting that this Resolution was issued pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments, and the Memorandum and Articles of Association of Watani Investment Company (NBK Capital), and the agreement between the representative of the collective investment scheme which is WCP Investments LP and the marketing manager of Watani Investment Company (NBK Capital).
It was also pursuant to the application submitted by Watani Investment Company (NBK Capital) to conduct a private marketing for the shares of the Islamic Leasing and Finance Fund II (EUR) Ltd; and Resolution No. (24) of 2023 regarding amending the approval authorizations of the Supervision Sector’s procedures issued on 12 February 2023.