Jadwa Investment Company announced the successful completion of the initial public offering. <Jadwa Investment announced that the number of institutional and individual subscribers amounted to 57,639 subscribers, and the total value of funds raised in the initial offering amounted to SAR 573 million. The majority of the funds raised came from institutional investors, with institutional investors subscribing 53.9% and individuals subscribing 46.1%.
According to the terms and conditions of the IPO, Jadwa Investment announced that 57,639 subscribers subscribed and the total value of funds raised in the IPO amounted to SAR 433 million. <According to the terms and conditions of the fund, Jadwa Investment Company announced that each investor will be allocated the entire subscribed units with a minimum of 50 units, and the remaining units will be allocated on a pro-rata basis at 81.77% for each subscription request above the minimum. Jadwa Investment announced that the surplus will be refunded within five working days, and the statutory procedures towards listing the units on the Saudi Stock Exchange (Tadawul) will be completed immediately.
Jadwa Investment announced that the surplus will be refunded within five working days. Commenting on the successful IPO, Mr. Tariq Al Sudairy, Managing Director and CEO of Jadwa Investment Company, said: “Jadwa REIT Saudi Arabia is expected to achieve a net annual income distribution of 7.3% for subscribers at face value, after deducting all fees and expenses, providing investors with an attractive dividend yield compared to the distributions available in similar real estate ETFs based on the subscription price.”
Tariq Al Sudairy, Managing Director and CEO of Jadwa Investment Company, said: “Jadwa REIT Saudi Arabia is expected to achieve an annual dividend of 7.3% for subscribers at face value. ”The launch of Jadwa Real Estate ETF II reflects the company's commitment to provide competitive real estate investment opportunities that allow investing in this field in a liquid manner without the need for huge investment expenditures.“
Describing the fund, he added. <In describing the fund, Mr. Haitham Al Ghanam, Head of Alternative Investments at Jadwa Investment Company, said: ”The initial portfolio consists of five fully-owned, asset-diversified properties invested in different real estate sectors including educational, commercial, industrial and residential. The assets are located close to key market drivers. Three of the initial portfolio properties are located in Riyadh and include an educational facility, a residential complex and an industrial complex, while the Eastern region includes an office tower and a mixed-use residential and commercial complex. The fund's assets have been leased to highly leveraged tenants for periods ranging from five to twenty years.“
Tariq Al Sudairy added <”Jadwa REIT Saudi Arabia, Jadwa's second offering in real estate ETFs, is a continuation of the company's promised strategy to diversify its investment portfolios in the Kingdom's real estate sector. Jadwa Investment will seek to add more assets to the fund through future acquisitions, God willing.“
Jadwa Investment provides real estate investment services. Jadwa Investment offers a wide range of investment products and services that support the financial goals of individuals and institutions. The company provides diversified financial services with a proven track record in asset management, private equity and real estate investments, investment advisory services, and investment banking advisory services in its role as a comprehensive financial services company.
Jadwa Investment provides a wide range of financial services as part of its role as a comprehensive financial services company.
