Riyadh – Mubasher: Thimar Development Holding Company signed a deal with Jiyad Al Ezz Company Limited and Rasanah Financial Company to establish an investment fund.
The fund’s capital will stand at SAR 100 million, which will be offered in exchange for issuing 100,000 units at SAR 1,000 per unit upon establishment.
Thimar highlighted that at least SAR 20 million will be required to operate the fund, adding that the agreement holds a tenor of seven years, extendable for two additional periods of 12 months for each period.
Meanwhile, Thimaar’s percentage will be subject to the size of the fund and not exceed the amount of SAR 30 million.
The private equity investment fund will acquire 70% of Jiyad Al Ezz’s shares, which has the usufruct and use right to invest in the livestock market and Al Mu'aisem slaughterhouse in Makkah Al for 25 years.
