CMA nods to Alwaha REIT’s GAV hike

Logo of Alwaha REIT Fund

The Capital Market Authority (CMA) approved the request received from Wasatah Capital, fund manager of Alwaha REIT Fund, to increase the latter’s gross asset value (GAV) by issuing additional units aimed at acquiring new real estate assets.

The approval was granted as the fund manager's request complied with the relevant requirements as per the Real Estate Investment Funds Regulations, the market regulator said on its website.

For more news on listed companies

Prior to the unitholders’ meeting to vote on upping the fund's GAV by issuing additional units, the fund manager will publish the Supplementary Annex of the T&Cs to the unitholders on the fund manager's and the Saudi Exchange’s (Tadawul) websites, attaching all relevant information needed to make an informed decision.

The CMA also said that a voting decision without reading the T&Cs and its Supplementary Annexes carefully or fully reviewing their content may involve high risks.

Therefore, unitholders should carefully read the T&Cs and its Supplementary Annexes in order to make a well-informed voting decision. If found difficult to understand, it is recommended to consult with an authorized financial advisor.

The CMA's approval should never be viewed as an endorsement of the planned move’s feasibility. It merely means that the regulatory requirements as per the Capital Market Law and its Implementing Regulations have been met.