Today the listing and trading of the units of the Al-Khabeer Diversified Income Fund traded in the Saudi Market as a closed-ended traded fund.
According to Arabiya Net, the Saudi Stock Exchange said that the fund will have the trading code 4700 and the international code SA1560529E57 and that the daily price fluctuation limits between 30% up or down with The application of fixed limits for the price fluctuation at 10% up or down.
She explained that these limits will only be applied during the first three days of listing, and starting from the fourth day of trading, the limits for daily price volatility will be reset to 10% up and down , And canceling the fixed limits of price volatility.
and Al-Jazira Capital, in its capacity as placement manager for the Alkhabeer Diversified Income Traded Fund, announced on December 30 that the subscription process in the fund had been successfully completed and ended on December 24. 2020.
The Fund, over 15 working days, attracted more than 89 thousand subscribers, and the net value of subscriptions reached 472.8 million riyals.
Al-Jazira Capital added at the time that, as the manager of the offering, it will coordinate with the fund manager to finish the allocation process, within 10 working days from the date of the end of the initial offering period, in No later than January 7, 2021.
and referred to the offering of the fund's units in the Saudi Stock Exchange, trading within 20 working days of the end of the initial offering period, no later than January 21, 2021.
The company announced the start of subscribing to the fund on December 6, 2020, at the offering price of 10 riyals per unit, with a minimum subscription to the fund is one thousand Saudi riyals ( 100 units).
The Alkhabeer Diversified Income Traded Fund is a closed-end ETF compliant with the Shariah Board controls, established in accordance with the laws and regulations in force in the Kingdom and subject to the supervision and supervision of the Capital Market Authority And, the investment objective of the fund is to achieve periodic income for investors by investing in income-generating assets that are compatible with the controls of the Shariah committee, such as sukuk, trade finance, leasing, income funds, and murabaha.
