Mulkia Gulf Real Estate REIT’s unitholders approved on Wednesday a capital increase from SAR 600 million to SAR 681.1 million, through issuance of new units to the seller of Elite Mall in order to complete the acquisition deal, fund manager Mulkia Investment Co. said in a bourse statement.
|
REIT Details |
|
|
Current capital |
SAR 600 mln |
|
Target capital |
SAR 681.09 mln |
|
Number of current units |
60 mln units |
|
Number of target units |
68.11 mln units |
|
Current fund size |
SAR 751 million |
|
Target fund size |
SAR 971.34 million |
|
Offered additional units |
8.11 |
|
Offered additional units (%) |
8.3% |
|
Total value of additional units at target's offer price |
SAR 80.60 mln |
|
Price of units on offer |
SAR 9.94/ unit |
The company clarified that the revised terms and conditions of the fund have been approved. This includes updating the articles of increasing the total value of the fund’s assets to SAR 971.34 million from SAR 751 million, related mechanism and allocations, as well as the number of fund units and tariffs.
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