Commercial Companies Law 2001: Contents

Commercial Companies Law 2001
Commercial Companies Law
Part V — Joint-stock Company
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Article (94)

If subscription exceeds the offered number of shares after closing, the shares shall be allotted among subscribers in the manner agreed upon between the founders and the subscribers or in the manner defined in the company's articles of association.

The Minister of Commerce and Industry may decide at the beginning to allot a number of shares not exceeding 15% of the company's capital among the subscribers, and the allocation proceeds thereafter as provided for in the foregoing paragraph.

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