Alkhabeer Capital Concludes IPO of Its Alkhabeer Growth and Income Traded Fund With Subscription Value Exceeding Sar 1 Billion

Alkhabeer Capital announced the successful conclusion of the initial public offering period of its Alkhabeer Growth and Income Traded Fund units, with the subscription coverage ratio reaching 105% of the SAR one billion targeted capital.

During the initial public offering period of 15 business days that concluded on 31 March 2022 corresponding to 28 Shaaban 1443 Hijri, the Fund attracted 470,158 individual and institutional investors, with a net subscription value of SAR 1.08 billion. The Fund will invest in a diversified portfolio of investment assets that comply with the provisions and principles of the Shariah Committee, with the aim of developing its net asset value and realizing periodic returns for unitholders.

Commenting on this remarkable achievement, Mr. Ahmed Saud Ghouth, Chief Executive Officer of Alkhabeer Capital, said: “I am proud to announce the great success of Alkhabeer Growth and Income Traded Fund initial public offering, which saw a subscription coverage ratio of 105% of the targeted capital. This is a testament to the confidence that investors have placed in this first-of-its-kind traded fund, which promises to offer unique investment opportunities in a diversified portfolio of local and international stocks, public and private equity funds, initial public offerings and private offerings.”

The allocation of Alkhabeer Growth and Income Traded Fund units to subscribers will take place within 10 business days after the closing of the initial public offering period, no later than 14 April 2022, in accordance with the Terms and Conditions of the Fund. The surplus subscription amount will be refunded within 10 business days from the date of allocating the units, no later than 28 April 2022. The Fund units will be listed on Saudi Exchange (Tadawul) within 20 business days from the conclusion of the initial public offering period, no later than 28 April 2022.

Alkhabeer Capital, Fund Manager and Operator, is an asset manager specializing in investments and financial services. The Company is headquartered in Jeddah, Kingdom of Saudi Arabia, and is regulated by the Capital Market Authority, under license number (07074-37).