CMA approves IPO of BMK Saudi Equity Fund

Saudi Arabia’s Capital Market Authority (CMA) has approved a request from Bait Al Mal Al Khaleeji Co. to sell the units of BMK Saudi Freestyle Equity Fund Sharia Compliant in an initial public offering (IPO).

CMA’s approval should never be considered as a recommendation as it merely means that the legal requirements as per the Capital Market Law and its implementing regulations have been met, the market regulator said in a statement.

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