Mubasher: The Capital Markets Authority (CMA) of Kuwait granted its approval to establish Kuwaiti Ahli Capital Fund, which is under the supervision of the CMA.
Kuwaiti Ahli Capital Fund will have a floating capital ranging from KWD 5 million to KWD 300 million as a maximum value, Al Anba Newspaper reported.
The fund will offer 30 million units for subscription at a total of KWD 300 million, with the fund manager’s share of units not less than KWD 250,000 or equivalent in other currencies, the Kuwaiti news portal noted.
The management of the fund lasts for ten years starting from the establishment date and automatically renewed after granting the regulatory authorities’ approval.
