The Saudi Arabia Capital Markets Authority approved Retal Urban Development Co.’s request to increase its capital from SAR 500 million to SAR 555 million by issuing 55 million ordinary shares. The shares will be used to acquire a 47.5% stake in Ajdan Real Estate Development Company. Retal will publish a shareholder circular before the extraordinary general assembly meeting, setting out the capital increase, related risks and other information needed for the shareholder vote. The approval confirms compliance with the Capital Market Law and its implementing regulations and does not endorse the transaction’s feasibility.
2026-09-21Saudi Arabia Capital Markets Authority
Saudi Arabia Capital Markets Authority approves Retal Urban Development capital increase to fund 47.5% Ajdan acquisition
The Saudi Arabia Capital Markets Authority approved Retal Urban Development Co.’s proposed capital increase from SAR 500 million to SAR 555 million through 55 million new ordinary shares to acquire 47.5% of Ajdan Real Estate Development Company. Shareholders will receive a circular before voting, and the approval does not constitute an endorsement of the transaction’s feasibility.