Muscat Capital rebrands to SICO Capital

06/09/2021 Argaam

The Capital Market Authority's (CMA) board approved today, Sept. 6, the cancellation of the license granted to SICO Capital to conduct managing private non-real estate investment funds and managing sophisticated investor portfolios activities in the securities business.

 

The license cancellation request is based on the completion of the acquisition by SICO BSC - the owner of SICO Capital - of a controlling share of Muscat Capital Co., a capital market institution licensed to conduct securities business in Saudi Arabia.

 

As per to this change, Muscat Capital Co. changed its name to SICO Capital.

 

SICO Capital is licensed by CMA in 2019 and has not commenced its business yet.

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