RIYADH: Alkhair Capital has seen the value of its assets under management rise to SR13.42 billion ($3.6 billion) in the first quarter, making it one of Saudi Arabia’s top ten financial institutions.
The Riyadh-headquartered investment firm reported a 34.6 percent increase in assets under management in the first quarter of 2022 compared to the year-ago period, according to the Capital Market Institutions Report.
“Alkhair Capital is a pioneer in providing Islamic products, and the recent ranking by the Capital Market Institutions confirms our strong track record and operational excellence,” said Abdullah Al Shilash, CEO of Alkhair Capital Saudi Arabia.
Most recently, Alkhair Capital acted as the financial advisor and underwriter to two Saudi-listed companies’ rights issue offerings.
The first was a SR173 million capital raise for Saudi Industrial Export Co. and the second was Amana Cooperative Insurance Co.’s SR300 million capital hike plan.