Saudi’s Alkhabeer fund units begin trading on Tadawul, IPO subscription valued at $288mn – Arabian Business

Saudi’s Alkhabeer fund units begin trading on Tadawul, IPO subscription valued at $288mn – Arabian Business

Jeddah-based Alkhabeer Capital announced on Wednesday the listing and commencement of trading of Alkhabeer Growth and Income Traded Fund units on the Saudi Exchange (Tadawul).

The Fund attracted over 470,000 individual and institutional investors, realising a subscription coverage ratio of 105 percent with a net subscription value of SAR1.08billion ($288mn) during the initial public offering period of 15 business days, concluding on 31 March 2022.

“We are proud of the great interest in Alkhabeer Growth and Traded Income Fund, with the prominent demand that it witnessed during the initial public offering period being testament to the investors’ appetite for such innovative investment products,” said Ahmed Saud Hamza Ghouth (below), chief executive officer of Alkhabeer Capital.