|05 December, 2019

Saudi Al Rajhi Capital discloses details on REIT IPO

The initial public offering (IPO) price has been set at SAR 8.8 per unit: statement

A trader stands in front of a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015.

A trader stands in front of a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015.

REUTERS/Faisal Al Nasser

Riyadh – Al Rajhi Capital announced that the subscription period for its real estate investment trust (Al Rajhi REIT) total asset value increase offering will begin on 12 December, until 18 December 2019.

The initial public offering (IPO) price has been set at SAR 8.8 per unit, according to a statement to the Saudi Stock Exchange (Tadawul).

Participation in the total asset value increase will be available to all investors, whether existing unitholders, registered at Securities Depository Center (Edaa) by the end of the second trading day preceding the meeting, held on 31 October, or new investors participating in the offering.

The subscription will be available through Al Rajhi Bank and Al Rajhi Capital through the investment centres, ATMs, and mobile application.

Source: Mubasher

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