CMA green lights Retal Urban Development's 30% stake sale in IPO

Logo of Retal Urban Development Co.

The Capital Market Authority’s (CMA) board issued a resolution today, March 16, to approve Retal Urban Development Co.’s request to offer 12 million shares, representing 30% of the company’s capital, in a public offering.

The IPO prospectus will be published within sufficient time before the subscription period begins.

The CMA’s approval on the application is valid for six months from the board’s resolution date. The approval will be deemed cancelled if the offering and listing of the company’s shares are not completed within this period.

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