Alkhabeer Growth & Income Fund writes off 30M repurchased units, total count cut to 69.97M

Logo of Alkhabeer Growth & Income Traded Fund

Alkhabeer Capital, fund manager of Alkhabeer Growth & Income Traded Fund, completed writing off 30.03 million units allocated for repurchasing by the fund from July 20, 2023, to July 18, 2024, in coordination with Saudi Tadawul Group Holding Co. (Tadawul Group).

Accordingly, the nominal value of the fund’s capital will shrink from SAR 1 billion to SAR 699.74 million, the fund manager said in a Tadawul statement today, July 25, noting that the fund’s total unit capital was also brought down to 69.97 million.

For more news and details on Mutual Funds

According to data available on Argaam, unitholders of Alkhabeer Growth & Income Fund approved a special resolution in July 2023 to repurchase up to 50% of total units to be written off, based on the proposed mechanism, within 12 months from the approval’s announcement on Tadawul and the fund manager's websites.