Saudi market regulator approves IPO of GIB Murabaha Fund

24/01/2023 Argaam
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Logo of Capital Market Authority (CMA)

Saudi market regulator Capital Market Authority (CMA) issued a resolution approving GIB Capital Co.’s initial public offering (IPO) of GIB Murabaha Fund.

 

In a statement, the authority noted that 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 include detailed information on the fund, investment strategy and risk factors, and carefully study it 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, the statement added.

 

The CMA also indicated that its approval of the fund’s IPO should never be considered as a recommendation to subscribe to the fund; it rather merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

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