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Alkhabeer Capital allocates key units of REIT fund

RIYADH, December 14, 2018

Alkhabeer Capital, a prominent asset management company specialising in alternative investments, has announced the final allocation of the units of Alkhabeer REIT Fund, at the rate of minimum 50 units per subscriber.

The remaining units will be allocated on a pro rata basis for each subscription request exceeding the minimum limit.

Alkhabeer Capital CEO Ahmed Saud Ghouth said: "The receiving banks have started the process of refunding the surplus of the subscribers' funds. The formal procedures of listing the units in the Saudi Stock Exchange "Tadawul" will be immediately initiated."

Alkhabeer Capital has recently announced the successful closing of the Initial Public Offering of Alkhabeer REIT Fund. The fund was oversubscribed at 104 per cent and raised over SR247 million, from 25,124 individual and institutional subscribers participating in the IPO.

A closed-ended shari’ah compliant real estate investment traded fund, Alkhabeer REIT was created in accordance with applicable Saudi laws and regulations and operates under Capital Market Authority regulations and directives.-TradeArabia News Service




Tags: Saudi | real estate | Alkhabeer Capital | REIT fund |

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