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Swicorp Wabel REIT’s IPO 101% oversubscribed

Swicorp Wabel REIT’s initial public offering (IPO) has been 101 percent oversubscribed after 18,600 investors injected SAR 357.23 million in cash, according to Jadwa Investment Co., the fund manager, Swicorp Co., said in a statement on Wednesday.


All subscribed units will be allocated within ten days from the offering closing date.


Swicorp Wabel REIT offered 35.4 million units at SAR 10 per unit, totaling SAR 354 million. This represents 30 percent of the fund size of SAR 1.18 billion, Argaam earlier reported.


The IPO ran from Mar. 19 until April 8.