Riyadh – Mubasher: The second additional offering of Alkhabeer REIT Fund has been concluded with a coverage ratio standing at 307.36%, fund manager Alkhabeer Capital announced on Wednesday.
The total number of subscribers for this offering was more than 83,000 while the total value reached SAR 436.75 million. The cash subscription value is reportedly estimated at SAR 138.79 million.
Alkhabeer REIT will use the proceeds of the offering to acquire educational and logistical assets in Jeddah.
“The new subscriptions increased the total value of the fund’s assets to SAR 2.06 billion for the total number of the fund's units to reach 141 million,” CEO of Alkhabeer Capital, Ahmed Ghouth, commented.
Earlier this month, Alkhabeer REIT announced its plan to acquire Vision Colleges as well as Akun Warehouses.
Alkhabeer Capital previously distributed cash dividends of SAR 12.87 million to the unitholders of Alkhabeer REIT for the fourth quarter (Q4) of 2020.
