Edaa implements securities quantity increase on Mulkia Gulf REIT

Logo of Mulkia Gulf Real Estate REIT

The Securities Depository Center (Edaa) announced implementing a securities quantity increase on Mulkia Gulf Real Estate REIT today, June 15, according to a statement to Tadawul.

Trading on the fund new units also starts today, Argaam earlier reported.

On March 29, the fund closed subscription to increase the total asset value through an additional public offering, as the fund's capital increase ranged between SAR 250 million maximum and SAR 114.86 million minimum.

It raised SAR 280.53 million in cash and in-kind subscriptions in its offering to increase capital, including cash subscriptions of SAR 245.53 million, or a coverage ratio of 309.66% to the total cash offering at the minimum limit, and 114.50% to the total cash offering at the maximum limit.

The fund aimed to acquire Al Jadah mixed-use development in Riyadh for SAR 335 million, excluding tax and brokerage commission fees, data compiled with Argaam showed.