Derayah REIT’s initial public offering (IPO) was 125 percent oversubscribed, fund manager Derayah Financial Corporation said in a statement.
 
A total of 10,562 subscribers raised up to SAR 451 million in funds.
 
One thousand units will be allocated to each investor, while the remaining units will be allocated pro rata, as per the total number of units amounting to SAR 361.7 million.
 
Refunds will be paid in 15 business days after end of offering.
 
Derayah REIT’s IPO ran from Dec. 27 to Jan. 7. The sharia-compliant fund offered SAR 361.7 million worth of assets to the public. It plans to distribute 90 percent of its profit semi-annually, with expected net returns of 7.22 percent over the next year.
 
Derayah REIT will have a fund size of SAR 1.17 billion, representing 15 properties in Riyadh, Jeddah, Dammam, Khobar, Jubail, and Al-Ahsa. The assets include offices, residential units, warehouses, hotels, and retail units.
 
 

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request