Alkhabeer REIT's offering to increase asset value 104% covered

The subscription period to increase the total asset value of Alkhabeer REIT Fund through public offering was completed on August 6, with a coverage ratio of 104%, said the fund manager, Alkhabeer Capital, in a bourse statement.

Subscription started on Sunday, July 19.

Unit allocation and refund process will be carried out in 15 days from the date of the offering close.

On July 5, the unit holders approved increasing the total asset value of the fund by SAR 722.8 million through issuing additional units and securing extra Shariah-compliant financing.

The fund offered 36.53 million units to raise its total asset value from SAR 984.7 million to SAR 1.707 billion.