Alkhabeer Capital, a prominent asset manager specialising in shari’a-compliant investments, financial services and brokerage services, today (April 28) announced the launch of the initial public offering (IPO) of the Alkhabeer Diversified Income Traded Fund 2030 units on the Saudi Exchange. 

 

The subscription is open to all citizens, residents and qualified individuals of Saudi Arabia, as well as institutions and citizens of the GCC, until May 16.

 

A total of 100 million units are being offered at an initial offering price of SAR10 (before fees and taxes), said the statement from Alkhabeer Capital.

 

The Fund aims to distribute periodic returns of up to 8% annually by investing in various income-generating assets across local, and global markets. 

 

Alkhabeer Capital said it has set a target capital of SAR1 billion ($266 million) for the Fund.

 

The subscription for the IPO can be made through the receiving entities - Aljazira Capital, Alkhabeer Tadawul, SNB Capital, Riyad Bank, Arab National Bank, Alrajhi Bank, Banque Saudi Fransi, and Alinma Bank. 

 

It is also available to clients of other banks through the subscription system on the fund manager’s website, said the statement from the Jeddah-based company. 

 

The minimum subscription for the initial offering of Alkhabeer Diversified Income Traded Fund 2030 has been set at 1,000 Saudi riyals per unit.

 

The Fund invests in major sukuks, trade finance, leasing, senior secured loans, structured income notes, income funds and Murabaha, it added.-TradeArabia News Service–