‎Al Rajhi Capital REIT starts subscription to additional units today

‎Al Rajhi Capital REIT starts subscription to additional units today

The subscription period to increase the total asset value of Al Rajhi REIT Fund through an additional offering for investors will start today, May 17, through May 30, for 113.75 million units at SAR 8.90 apiece.

The fund aims to increase the value of its total assets to complete the acquisition of two assets, namely Riyadh Avenue – Riyadh and Al-Henaki Business Center – Jeddah.

In April, the Capital Market Authority (CMA) approved the fund’s request to increase total asset value through issuing additional units to acquire new real estate property, according to data compiled by Argaam.

Subscription to additional units will be available to:

- Unitholders registered on the day of the unitholders meeting designated to approve the increase in the total assets and those wishing to participate in the additional units.

- Natural persons with Saudi nationality and citizens of the Gulf Cooperation Council countries (GCC).

- Natural persons residing in the Kingdom of Saudi Arabia.

- Institutions, companies, investment funds and other entities and legal persons based in Saudi Arabia, qualified foreign investors and Gulf investors.

The receiving entities are Riyad Bank, Alinma Bank, AlJazira Capital, Al Rajhi Bank, Arab National Bank (ANB) and Banque Saudi Fransi (BSF).