The Capital Markets Authority (CMA) has issued Decision No. (157) for the year 2024 concerning a private marketing license for a collective investment scheme established outside the State of Kuwait. 

This license is granted to Gulf Capital Investment Company for the private marketing of 200 units (only two hundred units) of the U.S. Industrial Growth Portfolio within the State of Kuwait, originating from the Cayman Islands. 

Each unit consists of the following:

1.    One ordinary share (1 share) without voting rights in (2024 Growth Equity Holdings Limited).
2.    One ordinary share (1 share) without voting rights in one of the self-financing debt investment companies: (2024 Growth Finance Limited) and (2024 Growth Finance (II) Limited), with an offering price of $100,000 (only one hundred thousand US dollars) per unit, in addition to a 2% subscription commission based on the client’s investment.

It has been decided that the units to be marketed within the State of Kuwait will be available only to professional clients in accordance with the provisions stated in the first book (Definitions) of the executive regulations of Law No. 7 of 2010 regarding the establishment of the Capital Markets Authority (CMA) and the regulation of securities activities and their amendments. The entities receiving subscription requests will be Gulf Capital Investment and Gulf Bank. 
The marketing license will be valid for one year, renewable annually starting from the date of issuance of the Authority’s license certificate, following the payment of the required fees. 
These fees must be paid within one month of the date of issuance of this decision; otherwise, the decision will be considered null and void.