‎Retail subscription to Retal Urban Development IPO starts today

‎Retail subscription to Retal Urban Development IPO starts today

Retail investors start today, June 5, subscription to 1.2 million of Retal Urban Development Co. shares, or 10% of total shares offered, at SAR 120 each, set by the book-building process.

The Capital Market Authority (CMA) approved on March 16 the company's request to float 12 million shares, or 30% of its shares, in an initial public offering (IPO).

The retail offering will run through June 6.

The institutional offering ended last week and was ….covered.

This will be the eighth listing on the main market this year, after East Pipes Integrated Company for Industry on Jan. 24, Scientific & Medical Equipment House Co. on Jan. 31, Elm Co. on Feb. 3, Al-Dawaa Medical Services Co. on Feb. 27, AMAK on March 9, Nahdi Medical Co. on March 13 and Saudi Home Loans Co. (SHL) on March 27.

Last year witnessed nine listings, including Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co, solutions, ACWA Power, Arabian Contracting Services Co., Nayifat Finance Co., Saudi Tadawul Group and Almunajem Foods Co.

Company Profile

Retal is a closed joint stock firm based in Al-Khobar. It was established in 2012.

The company’s capital is SAR 400 million, divided into 40 million shares of equal value. The