Dubai: Shares in Maather Real Estate Investment Trust jumped 10 per cent on listing from initial public offer price to 11 riyals (Dh10.76) upon listing in Riyadh.
Maather is Saudi Arabia’s fifth listed real estate investment trust.
Analysts at NCB Capital had estimated that based on its subscription price of 10 riyals per share, its dividend yield for 2017 would be 7.2 per cent; its subscription was covered 15.2 times.
Other Reits dominate early trade in Saudi stock market; all of them are among 10 most active stocks, with Al Jazira Mawten Reit the most heavily traded stock with a 0.8 per cent gain .
