Al Mal Capital REIT announces opening of follow-on public offering
DUBAI, 22 days ago
Al Mal Capital REIT (AMC REIT), the first real estate investment trust listed on the Dubai Financial Market (DFM), today (July 7) announced the official opening of the subscription period for its Follow-on Public Offering (FPO).
The FPO, licensed and regulated by the Securities and Commodities Authority (SCA), and managed by Al Mal Capital, a subsidiary of Dubai Investments, aims to raise up to AED242 million ($66 million).
Under the FPO, a total of 220 million new units - priced at AED1.125 per unit, including AED 0.025 subscription fee - will be issued to retail and institutional investors across the UAE and GCC, with the subscription period running until July 25.
Al Mal Capital REIT has a proven and stable track record, having delivered a 7% distributed return since 2023, supported by 100% portfolio occupancy with stable lease rentals and a Weighted Average Unexpired Lease Term (WAULT) of approximately 20 years.
The REIT continues to target consistent returns of approximately 7% for investors. The strategic capital raised through the FPO will be used to enhance the REIT’s portfolio by acquiring additional income-generating assets in resilient sectors such as healthcare, education, and mission-critical industrials, further enhancing the REIT’s growth and diversification.
To preserve ownership and minimise dilution, a priority allocation will be available to existing investors in the register of unitholders as of the Record Date (June 26).
These investors may subscribe to approximately 39% or more of their current holdings to maintain their ownership share and avoid dilution.
A secondary allocation of unsubscribed units will include a Minimum Guaranteed Allocation (MGA) of up to 2,000 units per eligible new subscriber, subject to request and availability.-TradeArabia News Service
