|14 October, 2019

Saudi CMA approves IPO of Al-Mubarak Saudi Sovereign Sukuk Fund

Approval only indicates that legal requirements as per the Capital Market Law and its Implementing Regulations have been met

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

REUTERS/Faisal Al Nasser

The Saudi Capital Market Authority (CMA) approved the public offering of Arab National Investment Company’s sukuk fund.

The authority said in statement on Tadawul that the approval of the fund “should never be considered as a recommendation to subscribe in the fund”.

The statement added that the approval only indicates that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

The CMA has advised investors to study the detailed information on the fund and risk factors before making an investment decision.

(Writing by Nada Al Rifai, edited by Seban Scaria)

(nada.rifai@refinitiv.com)

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© ZAWYA 2019

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