Albilad Capital says Albilad MSCI US Equity ETF IPO raises SAR 30 mln, to start trading on March 28

Logo of Albilad Capital

Albilad Capital announced that the initial public offering (IPO) of Albilad MSCI US Equity ETF closed on March 21, raising SAR 30 million, according to a bourse filing.

The ETF will start trading on March 28, the statement added.

Albilad Capital, as the fund manager for Albilad MSCI US Equity ETF, announced earlier that the fund’s public offering would run for 15 days starting from March 9, Argaam reported.

In December 2021, the Capital Market Authority (CMA) approved Albilad Capital's request to offer Albilad MSCI US Equity ETF units on Tadawul.

This fund is the first of its kind that trades in the local market and invests in the Sharia-compliant stocks listed in the US market.

For More IPOs