Edaa implements securities quantity increase for Al Rajhi REIT

Logo of Al Rajhi REIT Fund 

The Securities Depository Center Co. (Edaa) implemented securities quantity increase for Al Rajhi REIT Fund on the center’s accounts of eligible securities holders today, Aug. 13.

The subscription to the additional units offered to increase the total asset value of Al Rajhi REIT Fund started on May 17 to increase the fund’s capital between SAR 330 million to SAR 1.01 billion, Argaam earlier reported.

The additional units offered to increase total asset value was covered at maximum limit, the total value of applications amounted to SAR 1.60 billion, with a 158.33% coverage ratio.

A total of 299,690 subscribers, including retail and institutional investors, placed 146,700 orders.

Al Rajhi Capital recently announced the completion of the legal procedures for the transfer of real estate Sukuk related to the additional offering (Riyadh Avenue and Henaki Business Center) to Al Rajhi REIT Fund.