Al Maather REIT 1520% oversubscribed, says Osool & Bakheet

Osool & Bakheet Investment’s initial public offering (IPO) of the Al Maather real estate investment traded fund (Al Maather REIT) on the Saudi Stock Exchange (Tadawul) ended 1,520 percent oversubscribed, raising SAR 2.8 billion, the company said in a statement. 

The value of the offered units reached SAR 184.1 million, it added.

A thousand units will be allotted to each subscriber, while the remaining units will be offered on a pro rata basis.

The fund, which targets capital of SAR 613.7 million, was offered from July 2 to July 6.

AlMaather REIT is the fifth real estate investment traded fund to be listed on Tadawul, after Riyad REIT, Jadwa REIT Al-Haramain Fund, and AlJazira Mawten REIT and Taleem REIT.