boursa4
Procedures, Terms and Conditions for the Bidding
for 44% Equity Stake of the Issued Shares
of Boursa Kuwait Securities Company
and the Updated Timeline
Whereas on the 9th of December 2018, in the Official Gazette issuance number 1422, the Capital Markets Authority of Kuwait (“CMA”) announced the “Procedures, Terms and Conditions for the Bidding for 44% Equity Stake of the issued shares of Boursa Kuwait Securities Company and the updated timeline” to include the following;
1) Bidding Provisions
2) Updated Timeline
As a result of recent request from local and international investors, who expressed interest in the transaction, to extend the dates of the Bidding Registration and Financial Bid Submission to allow them more time to form consortiums and finalize the required Bidding Documents, the CMA has therefore agreed to extend the transaction timeline for the best interest of the public as follows:
• 31st of January 2019: Deadline for the bidding registration
• 12th – 14th of February 2019: Financial Bid submission period
• 14th of February 2019: Announcement of the bid results
The CMA may amend the previous dates or procedures stated opposite to each, or any of the bidding procedures and conditions at any time as it deems appropriate. These amendments shall be published on the CMA website or by any other means the CMA deems appropriate. The amendments shall be considered effective as of the date of publication on the electronic CMA website, unless the CMA specifies another date of its effectiveness.