Subscription to Alkhabeer Growth and Income Traded Fund begins today

Logo of Alkhabeer Growth and Income

Alkhabeer Capital, the fund manager of Alkhabeer Growth and Income Traded Fund, announced today, March 13, the start of the fund's initial public offering, according to a bourse filing.

The subscription period will run for 15 business days, ending on March 31.

Alkhabeer Growth and Income Traded Fund is a Sharia-compliant closed-ended public equity investment fund, established in accordance with the applicable laws and regulations of Saudi Arabia and regulated by the Capital Market Authority (CMA).

The fund manager said that interested investors, including Saudi citizens, residents in Saudi Arabia, citizens of the GCC, and other investors permitted to hold listed equities in the Saudi Exchange (Tadawul) can subscribe to the fund at the offer price of SAR 10 per unit through the subscription channels of the receiving banks.

The receiving banks are AlJazira Capital, Al Rajhi Bank, Saudi National Bank and Riyad Bank.

Subscription is also available for clients of other banks through the subscription system available on the fund manager's website, Alkhabeer Capital, as the minimum subscription amount is set at SAR 1,000 (100 units).