Alinma Retail REIT to vote on up to 10M unit buyback on Jan. 28

Unitholders of Alinma Retail REIT Fund will convene a meeting on Jan. 28, to vote on buying back units up to 10 million units, representing 8.47 % of the units issued by the fund, to be kept as treasury units, according to a Tadawul statement.

The purchase will be financed from the proceeds from the sale of low yield assets, credit facilities, and/or excess cash flows, as long as they do not affect the distributions, in a manner that serves the interests of the fund’s unit holders, the statement added.