CMA approves IPO of Al Rajhi Saudi Freestyle Equity Fund

The Capital Market Authority (CMA) approved today, July 29, a request by Al Rajhi Capital to sell Al Rajhi Saudi Freestyle Equity Fund units 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, as it merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.