Alkhabeer Growth Fund debuts on Tadawul today

Details of IPO

Number of offered units

100 mln

Number of units offered to institutional subscribers

595,000

Number of units offered to retail subscribers

99.41 mln

Allocation

100 units (minimum)/individual

Allocation of remaining units

On a pro-rata basis, at 90.6699%

Offer price

SAR 10.23

Alkhabeer Growth and Income Traded Fund

Fund type

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 CMA.
 

Fund manager

Alkhabeer Capital

Target fund size

SAR 1 bln

Total number of units

100 mln

Offer price

SAR 10 per unit

Fund duration

99 years from the date of listing units on the Saudi Exchange (Tadawul), subject to renewal at the discretion of the fund manager after obtaining the CMA’s approval.

Revenue distribution policy

- Alkhabeer Capital aims to distribute 100% of the fund’s net investment returns, which include only the distribution of the listed units in which the fund invests into twice annually, as the fund distributes returns within 40 working days from the date of issuing the semi-annual and annual financial statements.

- Alkhabeer Capital reserves the right, based on what is deemed appropriate, to distribute up to 50% of the realized and unrealized net capital gains twice annually, providing that the fund distributes the realized and unrealized capital gains, if any, within 40 working days from the date of issuing the semi-annual and annual financial statements. The distributions, if any, will be announced within 10 working days from the date of releasing the fund’s financial reports.