Logo of Alistithmar AREIC Diversified REIT Fund
Alistithmar AREIC Diversified REIT Fund’s initial public offering (IPO) ended on May 20, raising an amount of SAR 249.94 million, with the offer 135% covered, fund manager Alistithmar Capital said in a statement to Tadawul today, June 3.
The fund will list its units and commence trading after transferring the ownership of all acquired properties, within 60 business days after the end of the offering period, the statement added.
The following table summarizes the offering’s results:
|
IPO Results |
|
|
Total equity |
SAR 605 mln |
|
No. of units |
60.5 mln |
|
Unit price |
SAR 10 |
|
No. of IPO units |
18.5 mln |
|
Total funds raised |
SAR 249.94 mln |
|
Coverage ratio (%) |
135% |
|
Allocation mechanism |
100 units minimum/subscriber, with remainder to be allocated pro rata |
|
Surplus refund |
Completed on May 30 |
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