KUWAIT: Kuwait’s financial regulator issued new rules yesterday which will allow major shareholders to increase their ownership in listed companies without having to make an offer for all of the shares, a move which could help drive acquisitions.
At present, investors wishing to increase their stake in a company to more than 30 percent must offer to buy all of its shares under the same price and conditions.
Under the new rules, shareholders with a stake of between 30 and 49 percent can increase their holding by up to 2 percentage points without triggering the automatic offer, the Capital Markets Authority said. Reuters
