Alkhabeer Growth & Income Fund buys back 14.8 mln units in first phase

14/08/2023 Argaam

Alkhabeer Growth & Income Fund buys back 14.8 mln units in first phase

Logo of Alkhabeer Growth and Income Traded Fund

Alkhabeer Capital, the fund manager, announced that Alkhabeer Growth and Income Traded Fund repurchased its units during the period from July 24 to Aug. 10, 2023, as the following:

 

First Phase Buyback

No. of repurchased units

14.81 mln

Average Unit Price

SAR 9.45

Value

SAR 139.9 mln

Total Units to be Repurchased

50 mln

 

The company will coordinate with the Securities Depository Center Co. (Edaa) to complete the process of canceling the repurchased units, it said in a statement to Tadawul.

 

On July 19, the unitholders of Alkhabeer Growth and Income Traded Fund approved a special resolution to repurchase  a 50% maximum of total units for cancellation, according to data compiled by Argaam.

 

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