Alkhabeer REIT says cash subscription to increase asset value 307.4% oversubscribed

Logo of Alkhabeer REIT Fund

Alkhabeer Capital, fund manager of Alkhabeer REIT Fund, announced the successful completion of the cash subscription process in the second increase in the total value of the fund’s assets on June 17, where 307.36% of the total cash offering volume was oversubscribed.

The fund manager will coordinate with the lead manager to complete the allocation process and return the surplus to subscribers within 15 business days from the end of the offering period and latest by July 8.

In May, the subscription to increase the total asset value of Alkhabeer REIT Fund through additional public offering started on May 30 to increase the total value of assets by SAR 335.5 million to SAR 2.062 billion, from SAR 1.727 billion.

The fund offered a total of 15.74 million units, worth SAR 138.82 million, in cash.