Alkhabeer Growth & Income Fund repurchases 1.6M units in last phase of 50% buyback

Logo of Alkhabeer Growth and Income Traded Fund

Alkhabeer Capital, fund manager of Alkhabeer Growth & Income Traded Fund, announced concluding the repurchase of the latter’s units in the fourth and final phase of its buyback, which ran from April 17 to July 18, as follows:

Alkhabeer Capital clarified that the unitholders’ approval of the fund’s buyback and writing off of up to a maximum of 50% has expired by the end of the trading day today, July 18. Accordingly, the fund manager purchases the remaining 30.03 million units during the entire period.

The company will coordinate with the Securities Depository Center Co. (Edaa) to complete the process of writing off the repurchased units within 10 working days, it said in a statement to Tadawul.

In July, unitholders of Alkhabeer Growth & Income Traded Fund approved a special resolution to repurchase a 50% maximum of total units for cancellation, according to data compiled by Argaam.