SEDCO Capital says subscription to increase assets value 141% covered

Logo of SEDCO Capital REIT Fund

Saudi Economic and Development Securities Co. (SEDCO Capital) , manager of SEDCO Capital REIT Fund, announced the successful completion of the cash subscription process in increasing the total value of the fund’s assets, through the additional offering to investors with a maximum limit, as the offering period ended on Sunday May 14, 2023.
 

The total value of orders amounted to SAR 855.7 million, said the company in a statement to Tadawul. It added that the coverage ratio stood at 141%, with the participation of 135,852 individual and institutional investors with total of 65,230 orders.

The units will be allocated within 15 business days from the closing date of the additional offering period in accordance with the allocation mechanism.
 

The subscription period to increase the total asset value of SEDCO Capital REIT Fund through an additional offering for investors began on May 1, through May 14, at SAR 8.64 apiece, according to Argaam's data.
 

The fund’s second offering came after the acquisition of Atelier La Vie, the new entertainment destination, which is strategically-located on King Abdulaziz Branch Road, Jeddah. The Atelier is located near several attractions, such as the Jeddah Waterfront, Formula 1 and City Walk.