Logo of Alwaha REIT Fund
Alwaha REIT Fund starts trading on Nomu-Parallel Market today, Nov. 30, under the symbol 9300 and ISIN Code SA15K0H4L4H6 within the REITs indices, according to the Saudi Exchange (Tadawul).
The daily fluctuation limit is ±30%, while the static price fluctuation limit is ±10%.
Saudi Arabia’s Capital Market Authority (CMA) approved in August the application of fund manager Wasatah Capital to register units of Alwaha REIT Fund for a direct listing on Nomu-Parallel Market as a real estate investment traded fund, according to data compiled by Argaam.
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Wasatah Capital announced in October that the fund raised a total of SAR 177.03 million from the offering on Nomu, with 55.67% allocated per subscriber.
At that time, Alwaha REIT floated 15 million units on Nomu, representing 100% of its capital.
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Allocation Details |
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Capital Share |
Units (mln) |
Price (SAR mln) |
Coverage ratio |
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In-kind |
78.49 % |
11.77 |
117.73 |
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Cash |
21.51% |
3.23 |
59.30 |
179.62% |
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Fund Profile |
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Fund |
Alwaha REIT Fund |
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Fund Manager |
Wasatah Capital |
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Investment Objectives |
The fund aims to invest in structurally developed real estate properties that are capable of generating periodic and leasing income, and to distribute a specified percentage of not less than 90% of the fund’s annual net profits in cash to unitholders during the fund’s term.
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Capital |
SAR 150 mln |
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Term |
99 years as of the date of debut in Nomu-Parallel Market |
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Target Assets |
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Administrative Fees |
1% annually of the fund's total asset value |
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Dividend Distribution |
The fund manager aims to distribute semi-annual cash dividends to investors, to be distributed within 30 working days from the beginning of each half year, on the first day of January and July, provided that the distributions are not less than 90% of the annual net profits of the fund, except for proceeds resulting from the sale of the fund’s real estate assets which are to be reinvested in other investment assets in the interests of the unitholders, or as may be deemed necessary by the fund's board of directors. |
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