Yaqeen S&P ESG MENA ETF starts IPO today

Yaqeen S&P ESG MENA ETF launched its initial public offering (IPO) on the Saudi Exchange (Tadawul) today, May 12.

The offering period is 15 business days and the fund manager has the right to extend the IPO to extend up to 45 additional business days.

The public, open-ended ETF aims to track and simulate the performance of the MSCI index of selected growth stocks for small and medium-sized Saudi companies that comply with Shariah standards.

The unit price upon offering is SAR 10, and the minimum amount the fund manager intends to raise is SAR 10 million.In case the minimum amount is raised, the fund manager can close the offering at an earlier date.

The Capital Market Authority (CMA) approved Yaqeen Capital’s request to offer units of Yaqeen S&P ESG MENA ETF on the market last April.