Logo of Alkhabeer Growth and Income Fund
Alkhabeer Growth and Income Traded Fund listed on Tadawul's main market as a closed-ended traded investment fund today, April 27, with the symbol 4701 and ISIN Code SA15HG529EL7.
The fund's units will have +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits.
The unit's price, including subscription fees and value-added tax, amounts to about SAR 10.23.
The Capital Market Authority (CMA) approved in February the request received from Alkhabeer Capital, the fund manager, to offer and register units of Alkhabeer Growth and Income Traded Fund in the market as publicly traded units of a closed-ended investment fund.
Alkhabeer Capital announced completing the allocation process for institutional and individual investors, in accordance with the allocation mechanism approved by the fund.
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Details of IPO |
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Number of offered units |
100 mln |
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Number of units offered to institutional subscribers |
595,000 |
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Number of units offered to retail subscribers |
99.41 mln |
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Allocation |
100 units (minimum)/individual |
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Allocation of remaining units |
On a pro-rata basis, at 90.6699% |
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Offer price |
SAR 10.23 |
Alkhabeer Growth and Income Traded Fund seeks to develop net asset value through long-term investments and achievement of periodic return for investors.
The fund targets investing in a diversified portfolio of global stocks, public and private equity funds, company offerings and private placements to achieve periodic return for investors by distributing yields of invested companies. That is in addition to distribution of up to 50% of capital gains resulting from growth of market value of invested securities.
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Alkhabeer Growth and Income Traded Fund |
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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. |
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Fund manager |
Alkhabeer Capital |
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Target fund size |
SAR 1 bln |
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Total number of units |
100 mln |
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Offer price |
SAR 10 per unit |
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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. |
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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. |
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