Announcement details

Wasatah Capital, in its capacity as the fund manager of ALWAHA REIT Fund, announces the end of subscription for the Initial Public Offering (IPO) of ALWAHA REIT Fund units, according to the allocation mechanism approved in the Fund's terms and conditions.

The fund’s units offered were (15,000,000) units representing 100% of the fund's capital, in which the subscription and allocation were made as follows:

In-Kind Subscriptions: 78.49% of the fund's capital as which represents a number of 11,772,931 units with an amount of 117,729.310 Saudi riyals have been allocated as for the real estate properties sellers whose ownership will be transferred to the fund.

Cash Subscriptions: 21.51% of the fund's capital was allocated to the public through the cash offering of 3,227,069 units which represent an amount of 32,270,690 Saudi riyals, and the coverage ratio was 179.62% which represent an amount of 59,296,762.80 Saudi riyals.

The allocation was executed according to the terms and conditions of the fund for the cash offered units to the public on a pro-rata basis for the subscription amounts, with an allocation rate of 55.67% for each qualified investor.

The total raised for the entire fund: 177,026,072.80 Saudi Riyals.

The total raised amount from the cash subscriptions: 59,296,762.80 Saudi riyals

The surplus from the subscription amounts will be refunded no later than Thursday (27/10 2022 AD).

Wasatah capital will complete the necessary procedures with Saudi Tadawul company, "Saudi Tadawul", for the date of listing the fund’s units in the parallel market "Nomu", which will take place within 60 working days from the end of the offering period.