Saudi Stock Exchange (Tadawul) announced Sunday that the listing and trading of units of Saudi Fransi Capital’s Bonyan REIT will begin as of Wednesday, July 25, 2018.
The shares will be listed within the Real Estate Investment Traded Funds (REITs) sector, under the code “4347” and the fluctuation limit is 10%.
In March, Saudi Arabia’s Capital Market Authority (CMA) approved Saudi Fransi Capital’s request to offer, register and list units of Bonyan REIT on Tadawul.
Tadawul started listing REITs in 2016, in a move aimed at enhancing transparency in the property sector and easing the Kingdom’s housing shortage.
The funds allow investors to access the local real estate market through purchasing existing, developed property.
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