Riyadh – Mubasher: Alkhabeer Growth and Income Traded Fund has competed the allocation process for the Initial Public Offering (IPO), registering 595,000 units subscribed to by the institutions.
The fund offered 100 million units, representing 100% of its capital, according to a bourse disclosure on Thursday.
Alkhabeer Capital, the fund manager, noted that the company allocated a minimum of 100 units, out of 99.40 million total units, for each individual subscriber. The remaining units were allocated on a pro-rata basis with an average rate of 90.6699%.
The subscription period took place during 13-31 March at a price of SAR 10.23 per unit.
Earlier this month, the IPO of Alkhabeer Growth attracted 470,158 subscribers during a 15-business day subscription period.
