Riyadh – Mubasher: The subscription coverage ratio of listing Musharaka real estate investment traded fund “Musharaka REIT Fund” reached 1,021%, at a value of SAR 880 million, Saudi Arabia-based Musharaka Capital on Thursday said.

The subscribers number is12,000, of which retail investors and institutions at a value of SAR 3.8 billion, Musharaka Capital added.

The fund’s chairman is currently emptying the properties for the fund, then the surplus of the initial public offering (IPO) will be paid during the coming week, and finally the fund’s units will be listed in the Saudi Stock Exchange (Tadawul).

About 1,000 units which are the minimum value to subscribe will be allocated for each subscriber, and the rest of units will be allocated on a pro ratio basis, based on the number of subscription requests and the remaining units.

The minimum investment is 1,000 units at a value of SAR 10,000 during the subscription period, while the maximum amount of subscription in the fund is 4.4 million units with a liquidity of SAR 44 million.

The minimum number of owners of the fund's units is 50 investors, and the minimum public ownership is 30% from the fund's capital.