ADVOKS GLOBAL · KENYA
The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
28. Abridged information memorandum
Edition: 2023-12-15 · In force
28. Abridged information memorandum
(1)An advertisement, notice, poster or document including an abridged information memorandum announcing a public offer or listing of securities for which an information memorandum is or will be required under these Regulations shall not be issued to or caused to be issued to the public in Kenya unless it states that an information memorandum is or will be published and provides a website or other electronic location or an address in Kenya where the information memorandum can be obtained.(2)An advertisement, notice, poster or document referred to in subregulation (1) shall be submitted to the Authority and securities exchange not later than forty-eight hours before the proposed publication, and the Authority or securities exchange may require such amendments to be made to the information memorandum as may be necessary.(3)Each application form for subscription of the securities offered in an information memorandum shall state, in a conspicuous position, where the information memorandum may be obtained, and the issuer shall disclose to the Authority the number, if applicable, of physical copies of the information memorandum that have been printed.(4)Each issuer shall publish an abridged information memorandum in the same manner as the issuer publishes the information memorandum.(5)An abridged information memorandum shall disclose basic information regarding the issuer including—(a)a summary of the balance sheet, and profit and loss accounts for the three years immediately preceding the issue or such shorter period as may apply with respect to a particular market segment;(b)the broad ownership structure of the issuer before the issue and anticipated structure after the issue;(c)the particulars of the issue; and(d)any other material information regarding the issue.