CMA approves IPO of Derayah GCC Growth and Income Equity Fund

The Capital Market Authority (CMA) approved today, Feb. 14, 2021, a request by Derayah Financial Co. to sell units of Derayah GCC Growth and Income Equity 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 in the fund, as it merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.