ADVOKS GLOBAL · KENYA
The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
23. Form and content of information memorandum
Edition: 2023-12-15 · In force
23. Form and content of information memorandum
(1)The content of an information memorandum shall comply with the—(a)Sixth Schedule, where the issuer seeks to raise capital and list in the Main Investment Market Segment;(b)Seventh Schedule, where the issuer seeks to list on the Main Investment Market Segment by way of introduction;(c)Eighth Schedule, where the issuer seeks to list and raise capital on the Small and Medium Enterprises Market Segment;(d)Ninth Schedule, where the issuer seeks to list on the Small and Medium Enterprises Market Segment by introduction;(e)Tenth Schedule, where the issuer seeks to list in the Main Fixed Income Securities Market Segment;(f)Eleventh Schedule, where the issuer seeks to list securities on the Small and Medium Enterprises Fixed Income Securities Market Segment; and(g)such other requirements as the Authority may prescribe or approve with respect to any other market segment or issue of securities for which the Authority has jurisdiction.(2)Despite subregulation (1), the Authority may prescribe different disclosure requirements for an entity listed on a foreign securities exchange recognized by the Authority that is seeking to cross-list on a securities exchange in Kenya.(3)Every information memorandum shall contain the following statement on its front page—“As a matter of policy, the Capital Markets Authority [and the Securities Exchange] assumes no responsibility for the correctness of any statements or opinions made or reports contained in this information memorandum. Approval of the issue or listing is not to be taken as an indication of the merits of the issuer or of the securities.”