Groundbreaking Eskan Bank REIT public offering opens today

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.