markets Shariah ETF IPO closed

Wed 25 March 09

The Shariah exchange traded fund, which is being run by Absa, closed their initial public offering (IPO) last Friday, and according to Dr Vladimir Nedeljkovic, the associate principal of ETFs and Index Products at Absa, the results of the IPO will be available on April 3, when the actual figures will be released.

Nedeljkovic says that they have subscriptions in cash and in specie, so the total amount can still vary. He did confirm that there had been a good level of interest from the retail investors. He suggests that this could improve when the investment plan is launched in early April.