Arab Finance: The Financial Regulatory Authority (FRA) approved the establishment of five companies in real estate funds, underwriting securities offerings, and risk management, as per a statement.
The authority's approvals were issued for the establishment of Co-Wealth Company for promoting and underwriting securities offerings, as well as managing real estate investment funds.
The FRA also approved the establishment of Co-Wealth Fund, whose purpose is to operate as a real estate investment fund.
Meanwhile, Nawy Shares Company will implement activities related to promoting and underwriting securities offerings and managing real estate investment funds.
Additionally, CI Capital for Fund Management and Venture Capital to run the VC business.
Besides its core business, Thndr Technology Holding for Financial Investments was licensed to conduct activities related to forming and handling securities portfolios and managing investment funds.