Mulkia REIT’s unitholders approve capital hike to SAR 681 mln

05/02/2020 Argaam

 

Mulkia Gulf Real Estate REIT’s unitholders approved on Wednesday a capital increase from SAR 600 million to SAR 681.1 million, through issuance of new units to the seller of Elite Mall in order to complete the acquisition deal, fund manager Mulkia Investment Co. said in a bourse statement.

 

REIT Details

Current capital

SAR 600 mln

Target capital

SAR 681.09 mln

Number of current units

60 mln units

Number of target units

68.11 mln units

Current fund size

SAR 751 million

Target fund size

SAR 971.34 million

Offered additional units

8.11

Offered additional units (%)

8.3%

Total value of additional units at target's offer price

SAR 80.60 mln

Price of units on offer

SAR 9.94/ unit

 

The company clarified that the revised terms and conditions of the fund have been approved. This includes updating the articles of increasing the total value of the fund’s assets to SAR 971.34 million from SAR 751 million, related mechanism and allocations, as well as the number of fund units and tariffs.

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