Alinma Retail REIT Fund unitholders approve buyback of 10M units

Logo of Alinma Retail REIT Fund

Alinma Retail REIT Fund's unitholders approved on Jan. 28 the repurchase of up to 10 million units, or 8.47% of issued units, to retain as treasury units, according to a Tadawul statement.

They also authorized the board of directors to allow the fund’s manager to complete the buyback within a period not exceeding 12 months from the date the special resolution was issued.

Further, unitholders authorized the board to decide at a later stage whether to change the purpose of the repurchases to unit cancellation.