SEDCO Capital REIT launched today its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).
The offering will run for 14 days until Feb. 6, 2018.
The fund has a target size of SAR 650 million, and will offer 65 million units to the public at SAR 10 per unit.
Subscription will be available through Al Rajhi Bank, National Commercial Bank (NCB) and Samba Financial Group. The minimum subscription is SAR 500.
Last month, Saudi Arabia’s Capital Market Authority (CMA) approved Saudi Economic and Development Securities Co.’s request to offer, register, and list units of SEDCO Capital REIT on Tadawul.
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Fund Profile |
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Fund |
SEDCO Capital REIT. Close-ended, Sharia-compliant |
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IPO period |
From Jan. 24 to Feb. 6 |
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Fund Manager |
SEDCO Capital |
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Custodian |
Alinma Investment |
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Investment objectives |
Invests in income-generating, developed real estate assets |
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Size |
SAR 650 mln |
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IPO size |
SAR 650 mln |
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IPO Percent |
100% |
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Minimum Subscription |
SAR 500 |
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Maximum Subscription |
SAR 100 mln |
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Receiving banks |
NCB, Al Rajhi and Samba |
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Cash Dividend |
Semi-annual distributions. Annual dividend will be no less than 90% of net income excluding capital gains. |
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