Riyadh – Mubasher: Derayah Real Estate Investment Traded Fund’s (Derayah REIT Fund) initial public offering (IPO) has been oversubscribed by 125% with SAR 451 million total value of subscription requests, Derayah Financial said on Sunday.
Derayah REIT is a shariah-compliant close-ended traded real estate investment fund.
The number of subscribers that participated in the IPO reached 10,560 of individual and institutional investors, and investment funds.
“A minimum of 1,000 units will be allocated to each subscriber and the remaining offered units will be allocated pro rata to each subscriber. Excess subscription amount will be returned to the subscribers within 15 business days from the end of the subscription period,” Derayah’s statement added.