CMA approves Taleem REIT’s capital hike

Saudi Arabia’s Capital Market Authority (CMA) has approved Saudi Fransi Capital's request to increase the capital of Taleem REIT from SAR 285 million to SAR 510 million, in order to acquire real estate assets.

The approval was granted as Saudi Fransi Capital complied with the relevant disclosure requirements, the market regulator said in a statement.

The fund manager will publish the terms and conditions of Taleem REIT, include the objectives and rationale of the capital increase, prior to the meeting of unitholders to vote on the move.