‎Alkhabeer Growth and Income Fund allots at least 100 units/subscriber in IPO

‎Alkhabeer Growth and Income Fund allots at least 100 units/subscriber in IPO

Alkhabeer Growth and Income Traded Fund has completed the book-building process for institutional and individual investors for its initial public offering (IPO), in accordance with the allocation mechanism approved by the fund.

The institutional investors fully subscribed to the offered shares, as 595,000 units were allocated to them, fund manager Alkhabeer Capital said in a statement to Tadawul, today, April 14.

As many as 99.41 million units were allocated to retail subscribers, where at least 100 units were allocated to each individual investor as a first stage of the subscription. The remaining shares will be allotted pro-rata based at a ratio of 90.6699%.

The subscription period for Alkhabeer Growth and Income Traded Fund’s IPO began on March 13, and was successfully completed on March 31, according to Argaam’s data. The fund's target capital is SAR 1 billion, with a minimum of SAR 300 million, as Alkhabeer eyes offering 100 million units at SAR 10 per unit.

The subscribers’ surplus subscription was refunded on April 11.

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