The Company intends to Retal Urban Development Offering part of its shares for the initial public offering and listing its ordinary shares in the main market at the Saudi Tadawul, where it is expected that the offering will include the sale of 30 % of the company's shares.
According to Arabiya Net, Retal obtained Saudi Tadawul's approval to list its shares in the main market on October 20, 2021, and obtained the approval of the Capital Market Authority on its request to offer 12 million ordinary shares representing 30% of the company's shares for subscription. year on March 16, 2022.
The final offer price will be determined for all subscribers after the end of the order book building period.
The company intends to allocate a maximum of 1.2 million shares of the offer shares to individual subscribers, which is equivalent to 10% of the total shares of the offer.
The Saudi National Bank, Riyadh and Al-Bilad banks were appointed as recipients of the retail investor segment.
Retal's net profit amounted to 120 million riyals in the first nine months of 2021, an increase of 179% over the same period in 2020.
