Al Rajhi REIT prices additional units at SAR 8.9; subscription begins May 17

Logo of Al Rajhi REIT Fund

Al Rajhi REIT Fund set the subscription price for the additional units at SAR 8.9 per unit, fund manager Al Rajhi Capital said in a statement to Tadawul.

The supplementary appendix to the terms and conditions for increasing the fund’s total asset value was updated as of today, May 14, the fund manager added.

The subscription to increase the total value of the fund’s assets is set to begin on May 17, and will continue for 10 business days until May 30.

Riyad Bank, Alinma Bank, AlJazira Capital, Al Rajhi Bank, Arab National Bank (ANB) and Banque Saudi Fransi (BSF) are hired as the receiving banks for the process.

On May 11, Al Rajhi REIT Fund’s unitholders approved increasing total asset value to range between SAR 330 million minimum and SAR 1.012 billion maximum, to complete the acquisition of two assets, namely Riyadh Avenue – Riyadh and Al-Henaki Business Center – Jeddah, according to data compiled by Argaam.