Alkhabeer Growth & Income Fund buys back 8.5 mln units in second phase

21/09/2023 Argaam

Alkhabeer Growth & Income Fund buys back 8.5 mln units in second 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 Aug. 11 to Sept. 19, 2023, as the following:

 

Second Phase Buyback

No. of repurchased units

8.52 mln

Average Unit Price

SAR 8.97

Value

SAR 76.37 mln

Total Units Repurchased so far

23.3 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.

 

In July, 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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