Dubai: With an eye on the opening of Saudi markets for foreigners, AlKhair Capital said on Sunday it has launched an IPOs fund.
The fund will invests its assets mainly in primary markets, along with investing in recently-listed companies. These need to have been listed for less than three years in the secondary markets of KSA, the GCC and Mena regions.
“The fund is designed to achieve long-term capital growth, as well as achieving a performance that exceeds the guiding index performance,” Khalid Al Mulhim, Chief Executive Officer of AlKhair Capital said in a statement.
The fund aims at capital growth in the long term and investors will be able to invest with an initial minimum subscription of 10,000 Saudi Riyals.
AlKhair Capital Saudi Arabia established in 2009 has a paid up capital of 300 million Saudi riyals.
Saudi Arabia is the third fastest growing economy in the Group of Twenty nations G20, with an annual average growth of five per cent average over the past decade. UAE-Saudi bilateral trade accounted $19 billion (Dh69.7 billion) in 2014, which is 50 per cent of the total value of overall trade with GCC.
