SEDCO Capital Multi Asset Traded Fund extends subscription period to June 27

SEDCO Capital extended subscription period for the initial public offering (IPO) of SEDCO Capital Multi Asset Traded Fund until June 27.

The offering period started on May 19. The offer price was set at SAR 10 per unit, with the minimum subscription limit set at SAR 100.

Alinma Bank, Al Rajhi Bank, Arab National Bank, Banque Saudi Fransi (BSF), Riyad Bank, and SNB Capital were appointed as receiving agents. The company also appointed BSF as the custodian of the fund and AlJazira Capital as the receiving entity and lead manager.

The Shariah-compliant fund aims to achieve total returns of up to 10% for investors in the long term based on the historical returns of the markets, according to a statement issued by SEDCO.

The proposed composite benchmark index for the fund tracks 60% of the Dow Jones Islamic Market World Index (DJIMT), 20% of the Dow Jones Sukuk Index (DJSUKTXR) and 30-day moving average at 20%.

Subscription to the fund is available for natural persons holding Saudi nationality and citizens of the GCC countries; natural persons residing in Saudi Arabia with a resident identity card; institutions, companies, investment funds, and other entities and legal persons established in the Kingdom of Saudi Arabia and the GCC countries. It is also available for qualified foreign financial institutions in accordance with the rules regulating the investment of qualified foreign financial institutions in listed securities issued by the Capital Market Authority (CMA) and other investors permitted by CMA to own shares listed on the market.