Riyadh - Mubasher: Alkhabeer Capital announced the successful conclusion of the initial public offering (IPO) of its “Alkhabeer Diversified Income Traded Fund” units, the first fund of its kind in the region.

During the fifteen-day IPO period, the fund has attracted more than 89,000 individuals and institutional investors, with a net subscription value of SAR 472.8 million, as the coverage ratio exceeded 157% of the minimum fund’s size, according to a press release on Wednesday.

The fund’s IPO began on Sunday, 6 December 2020, and concluded on Thursday, 24 December 2020.

Moreover, Alkhabeer Capital said the fund’s units will be listed on the Saudi Stock Exchange (Tadawul) by 21 January 2021.

Alkhabeer Diversified Income Traded Fund aims to provide investors with a diversified portfolio of income-generating assets, giving them the opportunity to receive competitive periodic returns through investing in a multitude of assets, including Sukuk, trade financing, leasing, income funds, and Murabaha transactions, geographically diversified across local, regional, and global markets, including Saudi Arabia, the UAE, the US, and Europe.

The fund intends to generate competitive annual returns exceeding 5%, distributed semi-annually to its shareholders.

Headquartered in Saudi Arabia, Alkhabeer Capital specialises in asset management, alternative investments, and investment services.