AlAhli REIT Fund 1 has started trading on the Saudi Stock Exchange (Tadawul) today, Jan. 8, under the code 4338 with a daily price fluctuation limit will be 10 percent per unit, data compiled by Argaam showed.
Other final terms and conditions for the fund are posted on its website.
|
AlAhli REIT (1) Profile |
|
|
Fund |
Al Ahli Real Estate Investment Traded REIT(1) Fund, sharia-compliant REIT |
|
Fund manager |
NCB Capital |
|
Investment Purposes |
Investing in income-generating, developed real estate assets |
|
Targeted assets |
Alandalus Mall and Staybridge Suites Jeddah |
|
IPO period |
From Dec. 6 until Dec. 19, 2017 |
|
Fund Size |
SAR 1.375 bln |
|
Subscription fees |
2% of subscription amount |
|
Management fees |
1% from total assets after deducting expenses per year, payable semi-annually |
|
Funding |
The fund manager may obtain sharia-compliant financing, on the fund’s behalf, of not more than 50% of total assets. |
|
Trading ban period |
Three years from the fund’s listing date for Alandalus Property Co. on 67.5 mln units, representing 50% of total fund’s assets. |
|
Minimum Subscription Limit |
SAR 10,000 |
|
Maximum Subscription Limit |
Less than 5% of total assets, or less than SAR 68.75 mln. |
|
Cash Dividend |
Cash dividend for unit holders of not less than 90% of the fund’s net profit, twice a year |
|
REIT’s trading |
Same as other Saudi-listed REITs |
|
REIT Units |
|||
|
Subscription type |
Number of units (mln) |
Unit value (SAR mln) |
Percentage of total fund value |
|
Alandalus Property Co. (material) |
94.5 |
945.0 |
68.73 % |
|
NCBC (monetary) |
1.75 |
17.5 |
1.27 % |
|
Public (monetary) |
41.25 |
412.5 |
30% |
|
Total |
137.50 |
1375.0 |
100 % |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}