Albilad Capital raises SAR 4.5B from Hong Kong-China ETF offering

Albilad Capital raised SAR 4.49 billion in proceeds from the initial public offering (IPO) of Albilad CSOP MSCI Hong Kong China Equity ETF, poised to start trading on the Main Market (TASI) on Oct. 30.

The offering process concluded on Oct. 27.

In September, Albilad Capital received approval from the Capital Market Authority (CMA) on the public offering of the ETF.

The fund, Saudi Arabia’s first to invest in major Chinese companies listed in Hong Kong, aligns with Albilad Capital’s Shariah-compliance standards and marks its sixth ETF.