Alkhabeer Diversified Income Traded Fund IPO to launch December 6: Aljazira Cap

Aljazira Capital, the lead manager for the initial public offering (IPO) of the Alkhabeer Diversified Income Traded Fund, announced that the IPO will start Dec. 6, 2020, with a subscription period of 15 days, ending on Dec. 24, 2020.

Saudi nationals, foreign residents in the Kingdom and GCC nationals will be able to subscribe to units in Alkhabeer Diversified Income Traded Fund at the price of SAR 10 per unit through the appointed receiving banks, including Aljazira Capital, Al Ahli NCB, Riyad Bank and Banque Saudi Fransi, the brokerage said in a statement to Tadawul.

Subscribing in the fund for clients of other banks is also available through the subscription system on the website of the fund manager Alkhabeer Capital.

The minimum subscription amount is set at SAR 1,000 (100 units).

Alkhabeer Income Fund, a closed-ended traded fund regulated by the Capital Market Authority (CMA), is the first traded product of its kind in the region that provides global exposure to a multi-asset portfolio of income generating assets, the statement said.

The primary objective of the fund is to generate periodic income for the investors by investing in various Shariah-compliant income-generating assets such as sukuk, trade finance, leasing, income funds and Murabaha.