The Capital Markets Authority(CMA) issued Decision No. (172) of 2024 regarding a special marketing license for a collective investment system established outside the State of Kuwait, granted to Watani Investment Company for marketing 40,000,000 shares (forty million shares only) of the shares of the Forty Limited Leasing and Financing Fund for special marketing within the State of Kuwait, which is established in the Cayman Islands.

The offering price is set at $10 USD (ten US dollars only) per share, in addition to a subscription commission of 2.25% to be paid once at the time of subscription.

The shares being marketed within the State of Kuwait will be offered exclusively to professional clients, as specified in the first section (definitions) of the executive regulations of Law No. 7 of 2010 concerning the establishment of the Capital Markets Authority and the regulation of securities activities and their amendments. The entities receiving subscription requests will be Watani Investments Company and the National Bank of Kuwait (NBK).

The Authority has determined that the duration of the marketing license will be one year, renewable annually, starting from the date of issuance of the Authority’s license certificate and after payment of the prescribed fees.

The fees must be paid within one month of the date of issuance of this decision, and in the event of failure to pay the fees within the specified period, the decision will be considered null and void.