Saudi investment bank and asset manager SNB Capital, a subsidiary of Saudi National Bank (SNB), is set to go ahead with the public offering of a fund with focus on the petrochemical sector.

Saudi Arabia’s Capital Market Authority (CMA) confirmed on Tuesday that it has approved the company’s request for the public offering of “SNB Capital GCC Petrochemical Sector Fund”.

Early this year, the investment bank launched the “SNB Capital Oil & Gas fund I” that raised more than $230 million.

(Writing by Cleofe Maceda; editing by Seban Scaria) 
seban.scaria@lseg.com