Issue of Commercial Paper by Public Offering
Public offerings by companies or other entities are subject to prior authorisation by the Bank of Mozambique, in its capacity as the Market Supervisor of Securities.
Prior to the launch of a Public Offering of Commercial Paper issue, companies must submit to the Bank of Mozambique, through a financial institution, a set of documents consisting of:
- Copy of the minutes of the decisions or resolutions of the issuer's governing bodies;
- Updated copy of the issuer's articles of association;
- Commercial registration certificate;
- Management reports, accounts, opinions of the supervisory bodies and legal certification of accounts of the issuer, referring to the last years.
If the Public Offering for Commercial Paper issue is accompanied by any advertising campaign, the advertising material must also be authorised by the Bank of Mozambique before it can be disclosed to the public.
Once the Bank of Mozambique grants the authorisation to launch the Public Offering, companies may place Commercial Paper issue to subscription by the general public, through a financial institution or syndicate of financial institutions.