Al Rajhi REIT Fund to debut on Tadawul Mar. 20

Al Rajhi REIT Fund will start trading on Saudi Stock Exchange (Tadawul) on Mar. 20, under the symbol 4340.

The daily price fluctuation limit stands at 10 percent per unit, the bourse said in a statement on Sunday.

The fund’s initial public offering (IPO) on Tadawul was 174 percent oversubscribed, raising SAR 740 million, Argaam reported.

The fund has a size of SAR 1.62 billion, of which about SAR 427 million was offered (42.7 million units at a par value of SAR 10).

Al Rajhi Capital owns around 10 percent in the REIT Fund post-IPO, and has committed not to sell any units for the next two years after listing.