Alkhabeer Growth and Income Fund allots at least 100 units/subscriber in IPO

Details of IPO

Total number of units allocated

100 mln

Number of units offered to institutional subscribers

595,000

Number of units offered to retail subscribers

99.41 mln

Allocation

100 units (minimum)/individual

Allocation of remaining units will be on a pro-rata basis

90.6699%

Offer price

SAR 10.23

Refund to retail subscribers

Not later than April 11

Alkhabeer Growth and Income Fund Profile

Fund

Alkhabeer Growth and Income Fund, a Shariah-compliant closed-ended traded fund, coming under the supervision and control of the Capital Market Authority (CMA)

Fund manager

Alkhabeer Capital

Target fund size

SAR 1 bln

Minimum starting fund

SAR 300 mln

Total number of units

100 mln

Offer price

SAR 10 per unit

Minimum subscription

SAR 1,000

Fund duration

99 years from the date of listing units on the Saudi Exchange (Tadawul), subject to renewal at the discretion of the fund manager after obtaining the CMA’s approval

Revenue distribution policy

- Alkhabeer Capital aims to distribute 100% of the fund’s net investment returns, which include only the distribution of the listed units in which the fund invests into twice annually, as the fund distributes returns within 40 working days from the date of issuing the semi-annual and annual financial statements

- Alkhabeer Capital reserves the right, based on what is deemed appropriate, to distribute up to 50% of the realized and unrealized net capital gains twice annually, providing that the fund distributes the realized and unrealized capital gains - if any - within 40 working days from the date of issuing the semi-annual and annual financial statements. The distributions, if any, will be announced within 10 working days from the date of releasing the fund’s financial reports.