Ryiadh – Mubasher: The Saudi Capital Market Authority (CMA) on Monday announced approved the initial public offer (IPO) by NCB Capital Company for AlAhli MSCI Saudi ETF.

No further details concerning the start date or the value of the IPO were disclosed.

However, the CMA warned investors that its approval should never 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.

The MSCI index, formerly known as Morgan Stanley Capital International index, had announced in June that the Saudi Stock Exchange (Tadawul) had been included in MSCI’s Emerging Market Index on two phases concurring with the May 2019 Semi Annual Index Review and the August 2019 Quarterly Index Review.