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Executive Bylaws - CMA

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  • February 17
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2-5-3 Documents of Listing Application of Non-Kuwaiti Companies in the Main Market Of Module Twelve: Listing Rules
Section: Chapter Two: Listing Shares of Shareholding Companies
  • Sunday, 12 February 2017

    The listing application shall be submitted to the Authority on the form prepared for this purpose, accompanied by the following documents: 1. An authorization letter from the company to the Listing Advisor for following up the process of listing the company’s Shares on the Exchange. 2. Copy of the Company Contract and all the amendments that occurred to the same since the date of the company’s incorporation, and a copy of the company’s license and commercial register, if any. 3. Basic and financial details of the company as follows: a. The foreign company name. b. The form of the company. c. The amount of the capital. d. The company’s main activities, its relation to any other company, whether it is a holding, Subsidiary, Associate or Ally or any other form of relationship. e. The term of the company. f. The list of the names of the Members of a Board of Directors. g. The list of the company’s authorized signatories and samples of signatures. h. The country in which the company and its headquarters are incorporated. i. The nominal value of the Share and the currency in which the Shares are Issued. j. The name and address of the company’s Auditor and the external Sharia Audit Office if the company is operating accordance with the Sharia Standards. k. A copy of the company’s shareholders register. l. Statement specifying the type of shares issued and the redemption of the Shares along with the conditions of redemption. 4. The annual report of the company, to include: a. Board of Directors report including an evaluation of the company supported by the figures of the company’s performance for past three years prior to the Listing Application date. b. The approved original copy of the audited financial statements for the last three financial years prior to the submission of the Listing Application, in addition to the latest audited quarterly financial statements if more than three months have passed since the last annual financial statements of the company. 5. The general documents of the company, including: a. Certificate of listing the shares of the company on the Exchange of its country of registration or any other Exchanges. b. The company’s minutes of the general assembly meetings for the last three years prior to the submission of the Listing Application. c. An undertaking that there are no restrictions imposed by the company or by its country of incorporation that limit the freedom of transferring the ownership of the shares between traders, along with a statement of the type of the restrictions imposed on such transaction, if any. 6. The document of appointing the legal representative for the company in the State of Kuwait. 7. A legal statement from the company’s external legal advisor office stating all the claims filed for or against the company and its Subsidiary Companies that have a material effect on the financial position of the company, including amounts and details of such claims, if possible. 8. A detailed report on the company’s assets issued by its Auditor stating that these assets have been valued in accordance with generally accepted rules and standards. The Authority may request a copy of these valuations. 9. An undertaking from the company to disclose to the Exchange in State of Kuwait prior to listing, any information or data disclosed by the company to the exchange of its country of registration and such disclosure shall be made concurrently without delay. 10. An undertaking from the Members of a Board of Directors, members of the executive management, and its Insiders to abide by the laws, bylaws and the resolutions applied by the Exchange or the Authority. 11. Payment receipt of the Listing Application fees to the Authority. 12. Other documents required by the Authority.

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