Al Rajhi REIT’s offering 78.63% covered

Al Rajhi REIT Fund’s public offering was 78.63% covered, as 16,031 subscribers injected SAR 116.6 million investments to buy 13.25 million units, Al Rajhi Capital, the fund manager, said in a bourse statement.

The total number of offered units stood at 16.85 million.

The fund manager will complete the allocation of units to unitholders within 15 working days from the closing date of the offering period.

Al Rajhi Capital will also complete the acquisition of 3 educational properties from Al Khaleej Training and Education Co.

The fund manager will issue in-kind units in the fund to Al Khaleej, and use the offering proceeds, along with other Islamic facilities to repay the remaining value.