Jeddah-based AlKhabeer Capital fund raises $287m in IPO

RIYADH: Jeddah-based asset management company, AlKhabeer Capital has successfully raised SR1.078 billion ($287 million) in a recent initial public offering of a new investment fund.  

The IPO ended on March 31, and during a period of 15 business days, its Growth and Income Traded fund, which is Sharia-compliant, attracted 470,158 subscribers, the company said in a bourse statement.

The fund units will be listed on the Saudi Stock Exchange, always known as Tadwul, within 20 business days from the end of the IPO period. 

AlKhabeer has a number of divisions, ranging from corporate finance, real estate, private equity, and asset management, as well as several investment funds.