CMA approves IPO of Nafaqah Waqf Fund

The Capital Market Authority (CMA) approved today, Sept. 28, a request by Jadwa Investment Co. to sell units of Nafaqah Waqf Fund in an initial public offering (IPO).

Investors should study the fund terms and conditions before making any investment decisions, and can seek advice from the fund manager, the market regulator said.

The CMA’s approval of the fund should not be considered as a recommendation to subscribe to the fund, it noted.