By: Thabet Shehata
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) listed eight real estate investment traded funds (REIT Funds) and hosted the share sales of two firms in 2018.
Leejam Sports’ IPO
On Monday, 10 September, the Saudi bourse started trading on Leejam Sports Company’s shares under the symbol 1830, to record the first initial public offering (IPO) in the previous year.
Leejam’s capital amounted to SAR 523.83 million, distributed over 52.38 million shares, at SAR 10 per share.
In mid-November, the Saudi stock exchange stated that National Company for Learning and Education (NCLE) would start trading its shares on Sunday, 18 November under the symbol 4291.
In May, the Saudi Capital Market Authority (CMA) approved the IPO for 13 million shares, representing a 30.23% stake in NCLE.
Eight REIT Funds with SAR 8.7bn capital
Over the course of the previous year, the Saudi bourse saw the IPO of eight real estate investment traded funds (REIT Funds) with a combined value of SAR 8.7 billion, led by AlAhli REIT Fund 1 which started trading activities on 8 January with SAR 1.38 billion capital.
Jadwa REIT Saudi Fund came second after being listed on the REITs sector on Sunday, 11 February.
MEFIC REIT Fund was the last one listed on Tadawul on Tuesday, 13 November 2018, with total capital of SAR 1.23 billion.
Translated by: Mohammad Hesham Azab