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RIYADH: Al Rajhi Banking and Investment Corporation has had the public offering of up to SR10 billion ($2.67 billion) of debt instruments approved by Saudi Arabia’s Capital Market Authority.
The firm now has six months to conclude the offering of the first issue of the debt instruments, or the CMA will take back its approval.
The CMA's green light for the plan should not be considered as a recommendation to subscribe to the fund, as it merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met, the market regulator said.