Alkhabeer Capital, an asset manager specializing in Shariah-compliant investments and financial services, has announced the listing of the units of its Alkhabeer Diversified Income Traded Fund on the main market of the Saudi stock exchange (Tadawul). Trading commenced on Jan. 19. The trading code for the fund’s units in the market is 4700, and its international code is SA1560529E57.
The listing of the fund’s units was celebrated at the Tadawul Media Center in Riyadh, in the presence of Mohamed Al-Rumaih, chief of markets at Tadawul, and Ahmed Saud Ghouth, CEO of Alkhabeer Capital, as well as other executives of the company. The event marked the listing of the first-ever fund in the region on Tadawul as a closed-ended (non-real estate) traded fund that provides investors with a diversified portfolio of income-generating assets, offering them the opportunity to achieve competitive periodic returns.
Alkhabeer Capital successfully concludes IPO of Alkhabeer Diversified Income Traded Fund December 31, 2020
Ahmed Ghouth, CEO of Alkhabeer Capital.
JEDDAH Alkhabeer Capital, the asset manager specializing in Shariah-compliant investments and financial services, announced the successful conclusion of the initial public offering of its Alkhabeer Diversified Income Traded Fund units, the first Fund of its kind in the region.
The Fund’s IPO began on Sunday (Dec. 6, 2020) concluding on Thursday (Dec. 24, 2020). During the IPO period of 15 business days, the Fund has attracted more than 89,000 individuals and institutional investors, with a net subscription value of SR472.8 million, as the coverage ratio exceeded 157% of the minimum Fund s size.
Alkhabeer Capital, the asset manager specializing in Shariah-compliant investments and financial services, recently hosted a media briefing for the launch of its Alkhabeer Diversified Income Traded Fund. During the meeting, Ahmed Saud Ghouth, CEO of Alkhabeer Capital, discussed the fund’s advantages and characteristics. An introductory presentation on the fund was also delivered by the company’s head of capital markets, Ayman Abdulaziz Bajsair.
Ghouth and deputy CEO Hisham Omar Baroom answered questions from the media and other attendees during a dialogue session moderated by Rashid Mohammed Al-Fowzan. Alkhabeer Capital announced the launch of the subscription for Alkhabeer Diversified Income Traded Fund’s 100 million units at SR10 ($2.67) each. The 15-day subscription period will end on Dec. 24.