‎Retal issues prospectus for 30% IPO on Tadawul

‎Retal issues prospectus for 30% IPO on Tadawul

Retal Urban Development Co. announced today the prospectus for the initial public offering (IPO) of 12 million shares on the Saudi Exchange (Tadawul).

The Capital Market Authority’s (CMA) board issued a resolution on March 16 approving the company's request to offer 12 million shares, which represent 30% of the company’s capital, in a public offering.

Retal Urban Development Co. is a closed joint stock company established in 2012 in Khobar City. It started its activities as a branch of Tameer and Construction Co. Ltd. in 1999, and is active in the development and implementation of residential and commercial projects.

Since its establishment in 2012, Retal has built a unique real estate portfolio that includes more than 30 completed and under-construction projects, consisting of 7,284 housing units across the Kingdom. About 2,957 units were completed by the end of September 2021.

Participating parties: This tranche comprises the parties entitled to participate in the book building process as specified under the book-building instructions. The number of shares that will be allocated initially is 12 million, representing 100% of the total IPO. Final allocation of the offer shares will be made after the end of the subscription period for individual investors. The lead managers shall have the