CMA approves IPO of Bir Arriyadh Waqf Fund

The Capital Market Authority (CMA) on Thursday approved a request by Alinma Investment Co. to sell units of Bir Ariyadh Waqf Fund in an initial public offering (IPO).

Investors should study the fund terms and conditions before making any investment decisions, and can seek advice from the fund manager, the market regulator said.

The CMA’s approval of the fund should not be considered as a recommendation to subscribe to the fund.