CMA approves IPO of Itqan Capital Fund

The Capital Market Authority (CMA) has approved the initial public offering (IPO) of Itqan Capital Co.’s Itqan Capital Saudi Equity Fund, the market regulator said in a bourse statement on Monday.

CMA urges investors to carefully read the fund’s terms and conditions, and if needed, they should refer to the fund manager for more information, it said.

The approval should never be considered as a recommendation, as it merely means that the legal requirements as per the capital market law have been met, CMA added.