Eskan Bank on Monday opened the Initial Public Offering for its Eskan Bank Realty Income Trust (REIT), according to a press release published by Reuters Zawya.
The offering will be open for two weeks and is reserved for Bahraini and GCC nationals. The trust has a total size of BD 19.8 mn, 72.9% of which are part of the offering.
The mandated lead manager of the trust will be Securities & Investment Company which will also be the sub-investment manager and dedicated market maker while Bahrain Islamic Bank will has been appointed as the receiving bank.
Minimum subscription is BD 500, with the trust aiming to distribute a REIT-typical 90% of net distributable income to unit holders.