ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
49. Initial price
Edition: 2022-12-31 · In force
49. Initial price
(1)The initial issue price and offer period, which shall not exceed thirty days from the date of the launching, shall be prescribed in the incorporation documents and the latest information memorandum and the proceeds of the issue shall be remitted by the fund manager to the custodian of the collective investment scheme with advice to the trustee.(2)The initial issue of shares of a new fund shall not be less than the issue price paid by investors during the launching and offer period less the fund manager's fee and service charges prescribed in the incorporation documents and the latest information memorandum.