Alkhabaeer Capital announces IPO for traded fund unit

Saudi Arabia-based asset manager Alkhabeer Capital is planning to float its diversified income traded fund 2030 on the Saudi Exchange.

The IPO will be open to all citizens, residents and qualified individuals of Saudi Arabia and the GCC.

As many as 100 million units will be made available at an initial offering price of US$2.67 and the firm is hoping to bring in $266 million from the sale.

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According to Alkhabeer Capital, the fund is aiming to provide annual returns of up to 8% by investing in income-generating assets across the region.

Assets within the portfolio have come from a variety of sectors including sukuk, trade finance, leasing, senior secured loans, structured income notes, income funds and Islamic financing also known as murabaha.

The following eight entities have been selected as the receiving entities for IPO subscriptions – Aljazira Capital, Alkhabeer Tadawul, SNB Capital, Riyad Bank, Arab National Bank, Alrajhi Bank, Banque Saudi Fransi and Alinma Bank.

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