Alkhabeer Income Fund to debut on Tadawul on Jan. 19

Alkhabeer Diversified Income Traded Fund shares will be traded with the symbol 4700

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The Saudi Stock Exchange (Tadawul) announced that Alkhabeer Diversified Income Traded Fund will be listed as a closed-ended investment traded fund on the main market, and units will begin trading on Tuesday, Jan. 19, 2021, according to a bourse filing.

Units will trade with the symbol 4700, a daily price fluctuation limit of +/- 30 percent and static price fluctuation limit of +/- 10 percent.

These fluctuation limits will be applied during the first three days of trading, and they will revert to +/- 10 percent on the fourth day, while the static price fluctuation limits will no longer apply.

The fund attracted more than 89,000 subscribers, with net subscription value of SR472.8 million ($126.08 million), during the IPO period of 15 business days, which ended on Dec. 24, 2020.

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