Alwaha REIT sets unit offering at SAR 10 each; subscription opens on July 15

Logo of Alwaha REIT Fund

Wasatah Capital, manager of Alwaha REIT Fund, set the subscription value to the offering of additional units at SAR 10 per unit (excluding subscription fees and related VAT), according to a Tadawul statement.

Subscription to the increase in the total value of the fund’s assets through an additional offering will run from July 15-28.

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AlJazira Capital was appointed as the lead manager. Eligible investors (qualified to participate in the Nomu-Parallel Market) can subscribe through the electronic platforms of the receiving agents.

The receiving agents are AlJazira Capital, BSF Capital, Al Rajhi Capital, SNB Capital, Riyad Capital, Albilad Capital, Alistithmar Capital, Derayah Financial, Alinma Capital, ANB Capital, Yaqeen Capital, Al Khair Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes Saudi Arabia, and Awaed Capital.

Unitholders of Alwaha REIT approved on July 8 increasing the fund’s total assets and the supplementary annex to the fund’s terms and conditions through the issuance of additional units, both in-kind and in cash, according to data available with Argaam.

The capital increase will range between SAR 47.906 million (minimum) and SAR 47.909 million (maximum). It is aimed at completing the acquisition of the Al Jawhara Residential Building in Riyadh.

For more information, check the allocation mechanism in the supplementary annex of the terms and conditions available through the attached file.