Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has announced the listing and trading units of Saudi Fransi Capital Real Estate Investment Traded Fund (Taleem REIT) as of Tuesday, 30 May 2017.

The REIT will be traded under the symbol 4333 in the REITs sector, with a 10% daily price fluctuation limit per unit, Tadawul said in a statement on Tuesday.

“The main investment objective of [REITs] is investing in developed real estate that generates rental income,” Tadawul said, citing the REITs instructions announced by the Saudi Capital Market Authority (CMA) on Sunday, 30 October 2016.

On Sunday, Saudi Fransi Capital Real Estate Investment Traded Fund announced closing the initial public offering (IPO) of its Taleem REIT, which was 890% oversubscribed, bringing in SAR 760.9 million. Each unit was offered at SAR 85.5.

On 8 May, the Saudi CMA said it approved the request presented by Saudi Fransi Capital Real Estate Investment Traded Fund to publicly offer and register its Taleem REIT on Tadawul.

“REITs are accessible to all investor segments to buy and sell REITs units in the same method currently used for equities,” Tadawul’s statement concluded.