CMA green lights Miyar Saudi Equity Fund’s IPO

Logo of Capital Market Authority (CMA)

The Capital Market Authority (CMA) approved today, Oct. 13, Miyar Capital’s request to float units of Miyar Saudi Equity Fund, according to a statement.

Investors should carefully read the terms and conditions, which includes detailed information on the fund, investment strategy and risk factors. They should closely examine them to be able to assess the feasibility of taking into consideration the associated risks.

If the terms and conditions prove difficult to understand, it is recommended to refer to the fund manager for more information, said the regulator.

CMA also noted that its approval of the fund’s initial public offering (IPO) should never be considered as a recommendation to subscribe to it, as it merely means that the legal requirements, as per the Capital Market Law and its implementing regulations, have been met.