Al Rajhi REIT opens subscription to raise asset value today

12/12/2019 Argaam

 

The subscription period to increase the total asset value of Al Rajhi REIT through public offering for investors starts today, Dec. 12, 2019, until Wednesday, Dec. 18, 2019.

 

In October 2019, unit holders approved increasing the total asset value of the fund from SAR 1.72 billion to a maximum of SAR 2.41 billion by acquiring new real estate assets.

 

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 Oct. 31, 2019) or new ones.

 

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

 

Moreover, the subscription will be available through Al Rajhi Bank and Al Rajhi Capital Investment Centers.

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