Alkhabeer Capital, a prominent asset manager specialising in shari’a-compliant investments, financial services and brokerage services, has announced that the subscription deadline for the IPO of its Alkhabeer Diversified Income Traded Fund 2030 has now been extended to June 13.

 

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. It has set a target capital of SAR1 billion ($266 million) for the Fund.

 

A prominent fund, it will be investing in various income-generating assets, including sukuk, trade finance, leasing, senior secured loans, structured income notes, income funds and murabaha contracts. It aims to distribute periodic returns of up to 8% annually.

 

Announcing this, Alkhabeer Capital said the subscription was open to all citizens, residents and qualified individuals of Saudi Arabia, as well as institutions and citizens of the GCC and could be done through financial entities including Aljazira Capital, Alkhabeer Tadawul, SNB Capital, Riyad Bank, Arab National Bank, Alrajhi Bank, Banque Saudi Fransi, and Alinma Bank.

 

The Saudi group said the minimum subscription for the initial offering of the Alkhabeer Diversified Income Traded Fund 2030 has been set at SAR1,000 per unit.

 

According to Alkhabeer Capital, the Fund represents a new channel for diversifying investments away from traditional asset classes, aiming to achieve a periodic income of up to 8% annually for unitholders. 

 

Additionally, the fund benefits from the expertise of international companies specializing in asset management, distinguished by their track record across different economic cycles. 

 

It is the first of its kind in the Kingdom of Saudi Arabia in terms of foreseeable exit. Upon the fund's maturity in 2030, the net asset value will be distributed to unitholders in a timely manner, it added.-TradeArabia News Service