CMA approves SNB Capital Saudi Nomu Market Fund’s IPO

Logo of SNB Capital

The Capital Market Authority (CMA) approved the application submitted by SNB Capital to register and offer units of SNB Capital Saudi Nomu Market Fund, according to the CMA website.

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An investment decision without reading and fully reviewing the fund's terms and conditions (T&Cs) may involve high risk. Therefore, investors should carefully read the T&Cs, which include detailed information on the fund, its investment strategy, and risk factors. Also, they should carefully study the T&Cs to be able to assess the feasibility of taking into consideration the associated risks, the regulator said in a statement today, Oct. 7.

If the T&Cs prove difficult to understand, it is recommended to refer to the fund manager for more information.

The CMA also said its approval of the fund's application should never be considered as a recommendation for the IPO, as it merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.​