Subscription to Alkhabeer REIT’s assets increase to start July 19 at SAR 8.91 per unit

The subscription period to increase the assets of Alkhabeer REIT Fund is set to begin on July 19, 2020 and will continue for 10 business days until August 6, 2020, Alkhabeer Capital, the fund manager, said in a bourse statement.

Last week, the fund’s unit holders approved increasing the fund’s total assets by SAR 722.8 million through issuing additional units and securing extra Shariah-compliant financing to acquire new assets, as well as paying the related costs and expenses.

Related: Alkhabeer REIT unit holders approve SAR 722.8 mln assets hike to acquire new properties

The additional units will be issued at a price of SAR 8.91 per unit and the subscription will be available for all investors whether those registered at the Securities Depository Center on July 5 or other investors, the statement added.

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.

No subscription fees will be charged to registered unit holders on the general meeting’s day, the statement said noting that the fund manager has the right to subscribe to the additional units within the process assets value increase.

The subscription will be available through Aljazira Capital as the offering lead manager and Banque Saudi Fransi (BSF).