Alkhabeer Capital Announces Commencement of “Alkhabeer Growth and Income Traded Fund” Initial Public Offering

 Fund to offer 100 million units at SAR 10 with a minimum initial subscription of SAR 1,000

Jeddah, Saudi Arabia – 13 March 2022: Alkhabeer Capital, a prominent asset manager specializing in Shari’a- compliant investments and financial services, announced the commencement of the initial public offering of “Alkhabeer Growth and Income Traded Fund” units on the Saudi Exchange starting today Sunday, 10 Shaaban 1443, corresponding to 13 March 2022, with a 15 working days subscription period ending on the end of Thursday, 28 Shaaban 1443, corresponding to 31 March 2022. The Fund targets a total of 100 million units at an initial offering price of SAR 10.

“Alkhabeer Growth and Income Traded Fund” is a closed-ended traded Shari’a-compliant investment fund established in accordance with the applicable laws and regulations of the Kingdom of Saudi Arabia and is regulated by the Capital Market Authority. The Fund aims to provide recurring income for unitholders by investing in diversified shares in the local, regional and global markets, with a target capital of SAR 1 billion.

On this occasion, Mr. Ahmed Saud Ghouth, Chief Executive Officer of Alkhabeer Capital, said: “We are proud to launch the first closed-ended traded investment fund that offers unique investment opportunities in a diversified portfolio, which includes global stocks, public and private equity funds, corporate offerings for public subscription, and private placements, through an investment strategy that aims to grow the Fund’s net asset value through the performance of its investments in the long term and achieve periodic income for investors through the distribution of all annual returns received from companies and up to 50% of the capital gains resulting from the increase in the value of the companies in which the Fund invests .”

Saudi Arabia and GCC nationals, eligible institutions, as well as foreign residents in the Kingdom will be able to subscribe to “Alkhabeer Growth and Income Traded Fund” with minimum initial subscription amount set at SAR 1,000 through the following appointed Saudi receiving banks: Aljazira Capital (Offering Manager), Saudi National Bank, Al Rajhi Bank and Riyad Bank. The clients of other banks will be able to subscribe to the Fund through the subscription system on the website of the Fund Manager, Alkhabeer Capital.

To obtain a copy of the Terms and Conditions of “Alkhabeer Growth and Income Traded Fund”, please visit www.alkhabeer.com.

Alkhabeer Capital, the Fund Manager, is one of the leading capital market institutions in Saudi Arabia, authorized by the Capital Market Authority under License No. 07074-37 and headquartered in Jeddah, Kingdom of Saudi Arabia, with a branch in Riyadh. The Company provides innovative world-class investment products and solutions in private equity, financial markets and real estate investments, in addition to offering investment banking and brokerage services.

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