Derayah REIT, a Shariah-compliant close-ended traded real estate investment fund has successfully closed its subscription period on Jan.7.
The fund manager said the initial public offering of Derayah REIT on the Saudi Stock Exchange was 125 percent oversubscribed.
Over a subscription period of eight business days, more than 10,500 subscribers participated in the initial public offering (IPO) of the 36,174,421 units in Derayah REIT.
As per the fund manager, a minimum of 1,000 units will be allocated to each subscriber and the remaining offered units will be allocated pro rata to each subscriber.
Excess subscription amount will be returned to the subscribers within 15 business days from the end of the subscription period.
Derayah REIT has 15 real estate assets in more than six Saudi cities and operates in five different real estate sectors. The offering period of Derayah REIT started on Dec. 27, 2017, and ended on Jan. 7.
The fund manager said the initial public offering of Derayah REIT on the Saudi Stock Exchange was 125 percent oversubscribed.
Over a subscription period of eight business days, more than 10,500 subscribers participated in the initial public offering (IPO) of the 36,174,421 units in Derayah REIT.
As per the fund manager, a minimum of 1,000 units will be allocated to each subscriber and the remaining offered units will be allocated pro rata to each subscriber.
Excess subscription amount will be returned to the subscribers within 15 business days from the end of the subscription period.
Derayah REIT has 15 real estate assets in more than six Saudi cities and operates in five different real estate sectors. The offering period of Derayah REIT started on Dec. 27, 2017, and ended on Jan. 7.
