Al Waha REIT additional offering 109.6% covered, raises SAR 24.9M
Logo of Alwaha REIT FundWasatah Capital, the fund manager of Alwaha REIT Fund’s offering, announced the successful completion of the additional offering to increase the fund’s gross asset value (GAV), aimed at acquiring new real estate assets, according to a statement to Tadawul.
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The total subscription proceeds reached SAR 24.93 billion, excluding in-kind contributions, with a 109.64% coverage ratio.
Unit allocation was completed as per the terms and conditions outlined in the supplement (1) of the fund’s terms and conditions. Priority was given to existing unitholders registered on the day of the unitholders’ meeting, followed by other investors based on their respective categories and participation levels.
Refunds for excess subscription amounts will be processed within 15 business days from the end of the offering period. The...