The FCA said unlisted securities
within the fund hit 20 per cent of NAV in February 2019, prior to the listing of some securities on Tise.
The source claims that unlisted securities
dealers raised approximately $180 million for junior mining operations in the year prior to the adoption of the OSC regulation.
A directive dealing with unlisted securities
other than Eurosecurities, enacted in April 1989, provides for mutual recognition of prospectuses among the member states.
According to EU rules, funds can only hold up to 10 per cent of unlisted securities
. The decision to list assets on The International Stock Exchange (Tise) in Guernsey was a way of staying within that limit.
INVESTMENT IN DEBT MUTUAL FUNDS AND UNLISTED SECURITIES
The terms of the issue should have a provision allowing foreign institutions to sell unlisted securities
back to the issuer, the RBI said.
The USD 1 billion MENA Opportunities Fund is one of the first hedge funds to be launched in the region, with a long-short mandate and the ability to invest a portion of its asset base in unlisted securities
offering incremental value since the region presents attractive opportunities for private equity-type transactions.
Julian Schild, Huntleigh's chairman, said: "Getinge's offer represents fair value for Huntleigh's shareholders and reflects the substantial progress made since we floated on the USM (unlisted securities
market) in 1985.
The $1 billion MENA Opportunities Fund is the first hedge fund to be launched in the region, with a long-short mandate and the ability to invest a portion of its asset base in unlisted securities
which offers incremental value since the region presents attractive opportunities for private equity-type transactions.
I have been responsible for floating some of my own companies on several junior markets including the Unlisted Securities
Market, Rule 4.2 (the precursor to Ofex), and my previous business was one of the first companies to float on AIM and the first company to raise money on AIM in June 1995.
Treasury proposals to allow wider promotion of investment in unlisted securities
could cause far more problems than it solves, a consumer watchdog has said.