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|17 January, 2019

Saudi CMA nods to Bait Al Mal Al Khaleeji fund IPO

The IPO made by Bait Al Mal Al Khaleeji Company marks the first fund IPO and listing in 2019.

A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

REUTERS/Faisal Al Nasser

Riyadh –  The Saudi Capital Market Authority (CMA) on Wednesday approved an initial public offer (IPO) for units in BMK Saudi Freestyle Equity Fund Sharia Compliant.

The IPO made by Bait Al Mal Al Khaleeji Company marks the first fund IPO and listing in 2019.

The CMA’s approval of the IPO should not be considered a recommendation to subscribe in the fund, it said in its statement.

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“An Investment decision without reading the Terms and Conditions carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the Terms and Conditions, which includes detailed information on the Fund, investment strategy and risk factors, and carefully study it to be able to assess the feasibility of taking into consideration the associated risks. If the Terms and conditions proves difficult to understand, it is recommended to refer to the fund manager for more information,” the Saudi CMA reiterated.

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