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Issue 10 - December 2016
www.bahrainbourse.comACTIVITIES
Bahrain Bourse Hosts Eskan REITs Press Conference
Bahrain Bourse hosted the press conference of the Eskan Bank Re-
alty Income (REIT) on Monday, 21 November 2016. Bahrain and
GCC nationals will have the chance to explore a unique investment
opportunity in the Kingdom as the initial public offering (IPO) of
Eskan Bank Realty Income Trust (REIT) opens for subscription to-
day for a period of two weeks. Currently two properties - Danaat Al
Madina in Isa Town and Segaya Plaza in Manama - are under the
Eskan REIT. Although, additional properties could be added later.
The issue size is BD14.4 million and has a target of 6.5 per cent
in net distributable income payable semi-annually. Securities & In-
vestment 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 minimum subscription amount is BD500 and allotment
priority will be given to individual Bahraini applicants and thereaf-
ter all other investor categories on a pro rata basis.
REIT, an investment vehicle that allows investors to receive income
from investment in real estate sector without having to directly pur-
chase individual properties, was first established in the US in 1960
but is relatively new in the Middle East.