Alkhabeer Growth & Income Fund buys back 1.6M units in last phase

Logo of Alkhabeer Growth and Income Traded Fund

Alkhabeer Capital, the fund manager, announced that Alkhabeer Growth and Income Traded Fund repurchased its units during the fourth and last phase during the period from April 17 to July 18, 2024, as the following:

The fund manager clarified that the unitholder's approval for the fund to purchase its units for cancellation of up to a maximum of 50% has expired by the end of the trading day today, Thursday, July 18. Accordingly, the fund manager purchases the total of 30.03 million units during the entire period.

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

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