Finance & Capital Market

Saudi asset manager Alkhabeer Capital launches IPO

Alkhabeer Capital, the asset manager specializing in shari'a-compliant investments and financial services, has announced the launch of the initial public offering for its new diversified income traded funds. 
The fund is targeting 100 million units priced at SR10, with a subscription period of 15 days, ending on December 24.
Alkhabeer Diversified Income Traded Fund, which is targeting to issue a maximum value of SR1 billion, aims to provide investors with the opportunity to generate periodic returns through investing in income-generating assets, diversified across asset classes, sectors and geographies, said the statement from Al Khabeer.
The fund’s income-generating asset classes include sukuks, trade finance, leasing and income funds are further diversified across multiple sectors in local, regional and global markets as well as emerging markets. 
Saudi nationals and expats living in the kingdom as well as GCC nationals will be eligible to subscribe for units in Alkhabeer Diversified Income Traded Fund at the price of SR10 per offer unit through the appointed receiving banks: Aljazira Capital, Al Ahli NCB, Riyad Bank and Banque Saudi Fransi. 
Subscribing in the Fund for clients of other banks is also available through the subscription system on the website of the Fund Manager, Alkhabeer Capital. The minimum subscription amount is set at SR1,000 (100 units).-TradeArabia News Service