IPO of Fund Manager of Alkhabeer Growth and Income Traded Fund commenced Sunday & ends 31st March

Alkhabeer Capital, Fund Manager of Alkhabeer Growth and Income Traded Fund (“the Fund”), announces that the initial public offering of Alkhabeer Growth and Income Traded Fund has commenced, starting on Sunday 13 March 2022, with a subscription period of 15 Business days, ending on Thursday to 31 March 2022.

Alkhabeer Growth and Income Traded Fund is a Sharia compliant closed-ended public equity investment fund, established in accordance with the applicable laws and regulations of the Kingdom of Saudi Arabia and regulated by the Capital Market Authority (CMA).

The Fund’s investment objective is to increase the Fund’s Net Asset Value by boosting the performance of the Fund’s investments in the long term and generating current income to investors from the dividend distributions of the companies in which the Fund invests, in addition to part of the capital appreciation resulting from the growth of market value of the securities invested in. This is achieved by investing in a diversified portfolio of global equities, public and private equities, initial public offerings of companies, private placements, cash, and cash equivalents.

Interested investors, including Saudi citizens, residents in Saudi Arabia, citizens of the GCC, and other investors permitted to hold listed equities in the Saudi Exchange (Tadawul) can subscribe to Alkhabeer Growth and Income Traded Fund at the offer price of SAR 10 per unit through the subscription channels of the receiving banks, which are Aljazira Capital, Al Rajhi Bank, the Saudi National Bank and Riyad Bank. Subscription is also available for clients of other banks through the subscription system available on the Fund Manager’s website, Alkhabeer Capital, as the minimum subscription amount is set at SAR 1,000 (100 units).