Subscription to Al Rajhi REIT’s asset increase to start on Dec. 12: Al Rajhi Cap

05/12/2019 Argaam

 

The subscription period to increase the total asset value of Al Rajhi REIT through public offering to investors will run from December 12 to 18, Al Rajhi Capital said in a statement to Tadawul.

 

The new units will be offered at a price of SAR 8.8 per unit.

 

Participation in the total asset value increase will be available to all investors, whether existing unit holders (registered at Securities Depository Center by the end of the second trading day preceding the meeting that was held on October 31, 2019) or new investors.

 

The allotment ratio for existing unit holders at time of subscription is 0.1379, which means existing investor holding 10,000 units will be entitled to get 1,379 units.

 

The subscription will be available through Al Rajhi Bank’s ATMs and mobile application and Al Rajhi Capital Investment Centers.

 

According to data available with Argaam, unit holders agreed in October to increase the total value of the fund's assets from SAR 1.72 billion to a maximum of SAR 2.41 billion by acquiring new real estate assets.

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