Alkhabeer Income Fund 2030 to debut on Tadawul on July 17

Logo of Alkhabeer Diversified Income Traded Fund 2030

Alkhabeer Diversified Income Traded Fund 2030 will start trading on the Saudi Exchange (Tadawul) as a close-ended investment traded fund on July 17, with the symbol 4702 and ISIN Code SA1620529F58.

The stock will trade with a daily price fluctuation of +/- 30% and +/- 10% static price fluctuation limits, Tadawul said in a statement.

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These limits will be applied only during the first three days of listing. Starting from the fourth trading day, the daily price fluctuation will be reset to -/+ 10%, and the static limits will be cancelled.

The Securities Depository Center Co. (Edaa) added today, July 15, the fund's subscribed securities to the accounts of eligible unitholders, according to data available with Argaam.

Alkhabeer Capital, the manager of Alkhabeer Diversified Income Fund 2030, earlier floated 100 million units, representing 100% of the fund’s capital, according to data available with Argaam.

The subscription period ran from April 28 until June 13, at an offer price of SAR 10.12 per unit (subscription fees and VAT inclusive) through the receiving entities.

A total of 5.01 million units were allocated to institutions.

Meanwhile, as many as 25.54 million units were allotted to retail subscribers. A minimum of 100 units were first allocated to each individual subscriber, while the remainder was distributed pro-rata, with a 100% allocation rate.

Alkhabeer Diversified Income Fund 2030 is a Shariah-compliant closed-end traded fund.