Saudi Kuwait Finance House (SKFH) initial public offering IPO of Baitak fund witnessed huge turnout, which reflects investors’ interest in investing in IPO market, and the Saudi market in general.
IPO of Baitak fund started last month after the approval of Saudi Capital Market Authority.
SKFH CEO, Tarek Al-Rakhemi, stated, “Baitak IPO fund is a collective investing program open for subscription.” He added, “The fund had been tailored to cater for investors who wish to achieve actual returns that are competitive to the returns of other enlisted shares investing products.”
He assured, “Baitak fund grants investors the chance to utilize growth opportunities that are available in emerging and new companies, not to mention, guarantee achieving the optimal balance between the return and the risk to achieve rewarding return and risk-adjusted performance for investors.”
He went on to say: “This step of Baitk IPO Fund in the Saudi stock market comes in light of the remarkable and continuous improvement in the Saudi stock market index, in addition to the appealing investment environment, and rewarding investment opportunities in the Saudi market thanks to the economic stability in Saudi and the supportive entities in the market, such as the Capital Market Authority.”
It’s worth noting that SKFH is fully owned by KFH. It is a closed joint stock company with a capital of SR500m fully paid.