Al Rajhi Capital launches fund targeting Saudi IPOs, newly listed firms

Al Rajhi Capital, the investment arm of Al-Rajhi Bank, has launched the Al Rajhi IPO Fund, which is set to invest in initial public offerings (IPOs) in Saudi Arabia over the medium to long-term, the company said in a statement on Sunday.

The fund, which sees its initial launch between August 16 and September 10, is open to institutional and retail Investors. It will also target secondary markets through rights issues, rump offerings and newly-listed companies during their first three years of listing.

The minimum initial subscription stands at SAR 5,000 and the fund will have bi-weekly valuations.

Al Rajhi Capital manages over SAR 30 billion in money market, equity, multi-asset class, and real estate solutions.