AlAhli REIT Fund (1) 157% oversubscribed, says NCB Cap

AlAhli REIT Fund’s (1) initial public offering (IPO) on the Saudi Stock Exchange (Tadawul) was 157 percent oversubscribed, NCB Capital said in a statement.

 As many as 25,000 investors subscribed to the 41.25 million units offered.

A minimum of 1,000 units will be allotted to investors, while the surplus refunds will be paid at 40 percent this week.

The listing date will be announced later, the fund manager added.
 

The offering of AlAhli REIT (1) started from Dec. 6 to Dec. 19, Argaam earlier reported.

The Sharia-compliant Real Estate Investment Traded Fund (REIT), which has a capital of SAR 1.375 billion, will be the largest fund of its type by assets in the Saudi market.

Tadawul-listed Al Andalus Property owns an in-kind share in the fund.