Saudi-based Alkhabeer Capital, a leading asset management company specialising in alternative investments, said a 10-day subscription period to boost the assets of its real estate investment trust (REIT) fund begins tomorrow (July 19).

 

Last week, the fund’s unit holders approved increasing the fund’s total assets by SR722.8 million ($197 million) through issuing of additional units and securing extra shariah-compliant financing to acquire new assets, as well as paying the related costs and expenses, said a statement from Alkhabeer Capital, the fund manager.

 

The additional units will be issued at a price of SR8.91 per unit and the subscription will be available until August 6 for all investors, it stated.

 

The units offered will be first allocated to unit holders registered at the Securities Depository Center on the general meeting’s day and those willing to participate in the additional units on a pro rata basis. The remaining units (if any) will be allocated to the remaining investors, said Alkhabeer in its statement.

 

The subscription will be available through Aljazira Capital as the offering lead manager and Banque Saudi Fransi (BSF), it added.-TradeArabia News Service