IssuerAnnouncementDetailsV2Portlet
Actions
The Middle East Financial Investment Company (MEFIC Capital) Announces a Material Development to MEFIC REIT Fund
4346
MEFIC REIT
0.75 %
1446/04/21 24/10/2024 09:11:44
| Element List | Explanation |
|---|---|
| Introduction | The Middle East Financial Investment Company (MEFIC Capital) has announced a significant development regarding the MEFIC REIT. The fund has signed a swap agreement concerning the "The Pad" property located in Dubai on 20/04/1446 AH (23/10/2024 AD), valued at AED 62,600,000. |
| Description of the Event | This agreement involves reinvesting in the ownership of Downtown Bay Developments Limited, allowing the fund to acquire preferred shares in the aforementioned company, which operates in the real estate development sector. The book value of "The Pad" property was SAR 58,440,661 as of 30/06/2024. The fund manager will publish all the details upon completing the agreement. |
| The Impact Caused by the Event | The fund manager anticipates a positive impact on the fund's performance and financial statements as a result of this agreement. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Share
Company Performance
MEFIC REIT
Add To Watchlist
In your Watchlist
Add To Watchlist
Key Parameters
Last Price 4.03
Net Change 0.03 (+0.75%)
Value Traded (Sar) 456,778.97
Volume Traded 114,071
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions