The Clap
Alinma Investment, a subsidiary of Alinma Bank (1150), in its capacity as manager of the Alinma REIT Hotel Fund, revealed the success of the public offering of the fund offered in the main Saudi market.
What
The offering period ended on November 16, when the total volume of cash offerings reached approximately SAR 511.4 million.
So What
The total number of subscribers reached 184.6 thousand, while the total subscribed amounts (not including the fund manager’s subscription) amounted to SAR 560.9 million.
A minimum of 50 units will be allocated to each subscriber, and the remaining shares will be allocated on a pro-rata basis.
Now What
Alinma Investment will look to complete the necessary procedures with Tadawul Group to set the date for the Alinma REIT Hotel Fund shares listing in the main market (TASI).
