CMA green lights IPO of SNB Capital GCC Financial Sector Fund

Logo of the Capital Market Authority (CMA)

The Capital Market Authority (CMA) approved the application submitted by SNB Capital to sell the units of SNB Capital GCC Financial Sector Fund in an initial public offering (IPO).

An investment decision without reading the terms and conditions carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the terms and conditions which includes detailed information on the fund, investment strategy and risk factors, and carefully study it to be able to assess the feasibility of taking into consideration the associated risks, the market regulator said in a statement on Tadawul today, Dec. 29.

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

The CMA's approval of the fund should never be considered as a recommendation to subscribe in the fund, the approval merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met, the statement added.

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