Riyad REIT submits request to CMA to increase fund size

19/09/2017 Argaam

Riyad REIT Fund submitted on Monday a request to the Saudi Capital Market Authority (CMA) to increase the fund’s size through cash and in-kind assets, it said in a bourse statement.

 

In May, the REIT’s board recommended increasing the fund’s capital by SAR 1.05 billion to finance planned acquisitions worth the same amount, through offering a combination of rights issue and in-kind shares after obtaining regulatory approvals.

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