Manama, Kingdom of Bahrain – 21 November 2016: The initial public offering (IPO) of the Eskan Bank Realty Income Trust (REIT) opens today for two weeks, and will close on Tuesday 6 December 2016. The BD 14.4 million offering represents 72.9% of the Trust’s total size of BD 19.8 million, and has a target of 6.5% in net distributable income payable semi-annually. This Sharia-compliant offering is reserved for Bahraini and GCC nationals, and is open to individual and institutional applicants.
Securities & Investment Company (SICO) is the mandated lead manager, and also the sub-investment manager and dedicated market maker; while Bahrain Islamic Bank (BisB) has been appointed as the receiving bank.
The full press release in English & Arabic can be downloaded here
The offering prospectus can be downloaded here