Saudi CMA approves Alinma Mosque's Endowment Fund IPO

The CMA's approval of the fund merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met

  
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) has approved Alinma Investment Company’s proposal to implement the initial public offering (IPO) of Alinma Mosque's Endowment Fund.

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, the Saudi financial regulator said in a statement on Wednesday.

“The CMA’s approval of the fund should never be considered as a recommendation to subscribe in the fund, The CMA's approval of the fund merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met,” the statement highlighted.

Source: Mubasher

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