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Saudi Arabia’s Thimar Development Holding Company has set up a private close ended investment fund to acquire 70% of Jiyad Al-Ezz (Giad El Ezz), which holds the rights to invest in the livestock market and Al-Mu’aisem slaughterhouse in Mecca for 25 years.
The fund capital amounts to 100 million Saudi riyals ($26.7 million) and will be offered through a private offering, in exchange for issuing 100,000 units at a price of SAR 1,000 per unit, upon establishment.
The minimum capital to operate the fund is SAR 20 million, with the fund duration set for 7 years, which is extendable for two additional periods of 12 months each.
Thimaar said its percentage will be subject to the size of the fund and not exceed SAR 30 million.
Rasana Financial Company has been appointed fund manager and financial advisor of the investment fund.
(Writing by Bindu Rai, editing by Seban Scaria)
