Logo ofAl Rajhi Capital
Al Rajhi Capital announced that it raised SAR 50 million through the initial public offering (IPO) of the Al Rajhi MSCI Saudi Equity Dividend ETF. 
In a statement to Tadawul, the company said the offering period ended on Nov. 4, with the fund scheduled to commence operations on Nov. 9.
According to Argaam data, the Capital Market Authority (CMA) approved Al Rajhi Capital’s application in July to offer units of the Al Rajhi MSCI Saudi Equity Dividend ETF as a publicly offered exchange-traded index fund (ETF).
The fund aims to track the performance of the MSCI Saudi Arabia Shariah-compliant index, investing primarily in Saudi companies with high dividend yields, before deducting distributions, fees, and expenses.
The fund’s units are set to list and begin trading on the Main Market on Nov. 9.
Logo ofAl Rajhi Capital
Al Rajhi Capital announced that it raised SAR 50 million through the initial public offering (IPO) of the Al Rajhi MSCI Saudi Equity Dividend ETF.
In a statement to Tadawul, the company said the offering period ended on Nov. 4, with the fund scheduled to commence operations on Nov. 9.
According to Argaam data, the Capital Market Authority (CMA) approved Al Rajhi Capital’s application in July to offer units of the Al Rajhi MSCI Saudi Equity Dividend ETF as a publicly offered exchange-traded index fund (ETF).
The fund aims to track the performance of the MSCI Saudi Arabia Shariah-compliant index, investing primarily in Saudi companies with high dividend yields, before deducting distributions, fees, and expenses.
The fund’s units are set to list and begin trading on the Main Market on Nov. 9.
