Saudi regulator approves Al-Mubarak Sovereign Sukuk Fund IPO
Saudi Arabia’s Capital Market Authority (CMA) has approved Arab National Investment’s application for an initial public offering (IPO) of its Al-Mubarak Saudi Sovereign Sukuk Fund.
CMA said on Monday in a statement on Tadawul, the Saudi stock exchange, that the Fund meets requirements of the Capital Market Law and its implementing regulations.
Fund manager Arab National Investment Co is a wholly-owned subsidiary of Arab National Bank.
It also manages six other Shariah-compliant funds and two conventional funds currently listed on Tadawul.
($1 = 3.75 Saudi riyals)
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