$65.8m Alkhabeer REIT IPO proceeds

Alkhabeer

Capital has successfully closed the initial public offering of its Alkhabeer REIT Fund.

The fund raised more than 247 million Saudi riyals ($65.8 million, Dh241.7 million) from 25,124 individual and institutional subscribers.

Information about unit allocation and the refund of excess funds will be announced to investors within 10 business days from the IPO closing date, the firm said in a statement. (Staff Report)