ADVOKS GLOBAL · KENYA
The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
18. Requirement for information memorandum
Edition: 2023-12-15 · In force
18. Requirement for information memorandum
(1)A person shall not make an offer of securities to the public unless that person publishes an information memorandum in respect of the offer approved by the Authority or by a securities exchange in exercise of delegated authority.(2)The issuer shall comply with any requirements of any law, including the Companies Act (Cap. 486), regarding the registration of an information memorandum.(3)The issuer shall, during the offer period and for such additional period as may be prescribed by the Authority, make the information memorandum available to the public or to the section of the public to whom the offer is made free of charge.(4)The issuer shall be deemed to have complied with the requirements of subregulation (3) if the issuer—(a)publishes the information memorandum on its official website;(b)publishes the information memorandum in a newspaper with a nation-wide circulation;(c)delivers the information memorandum to the respective electronic mail addresses of the offerees;(d)publishes the information memorandum in such other digital platform as may be approved by the Authority; or(e)publishes the information memorandum in any other manner as may be prescribed or approved by the Authority.(5)An issuer shall deliver a copy of the approved and published information memorandum to the Authority and the securities exchange on or before the first day of the offer.