Logo of Retal Urban Development Co.
Retal Urban Development Co. announced today, May 9 the prospectus for its initial public offering (IPO) of 12 million shares on the Saudi Exchange (Tadawul).
The Capital Market Authority’s (CMA) board approved on March 16 the company's application to float 12 million shares, or 30% of its capital, in a public offering. Retal’s capital stands at SAR 400 million (40 million shares).
Retal is a closed joint stock company established in 2012 in Al-Khobar region. It develops commercial and residential projects.
Since its establishment in 2012, Retal has built a unique real estate portfolio that includes more than 30 projects that vary between completed and under construction projects. These projects comprise a total of 7,284 housing units in various regions 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 offer size. 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 right to reduce the number of shares allocated to participating parties to 10.8 million shares, representing 90% of the total offer shares.
Individual investors: This tranche comprises Saudi Arabian natural persons, in addition to any non-Saudi natural person who is resident in the Kingdom or any GCC natural persons, provided that they have a bank account with one of the receiving entities and are allowed to open an investment account. The number of shares offered for retail investors amounts to 1.2 million shares maximum, or 10% of total offered shares.
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Company Profile |
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Company |
Retal Urban Development Co. |
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Market |
Main market |
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Core Activities |
Construction, real estate activities, administrative services and support services. |
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Capital |
SAR 400 mln |
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Number of shares |
40 mln shares |
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IPO Summary |
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Issue percentage (%) |
30% |
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Number of shares offered |
12 mln shares |
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Qualified subscribers |
- Participating categories that include investment funds, QFIs, legal entities and GCC investors.
- Retail investors |
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Minimum limit for retail investors |
10 shares |
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Minimum limit for institutional investors |
100,000 shares |
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Maximum limit for retail investors |
250,000 shares |
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Maximum limit for institutional investors |
1,999,999 shares, and with respect to public funds only provided it does not exceed the maximum limit for each participating fund, which is determined as per book building instructions. |
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Offering period for participating parties and book-building period |
From May 25-31, 2022 |
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Retail subscription period |
From June 5-6, 2022 |
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Final allocation |
June 12, 2022 |
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Surplus refunds |
June 14, 2022 |
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Special Information |
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Financial advisor, lead manager, underwriter and book runner |
SNB Capital |
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Receiving banks |
Saudi National Bank - Riyad Bank - Bank Albilad |
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Company’s Major Shareholders |
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Shareholders |
Before IPO |
After IPO |
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Number of shares (‘000 shares) |
Ownership (%) |
Number of shares (‘000 shares) |
Ownership (%) |
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Al-Fozan Holding Co. |
37,500.00 |
93.75% |
26,250.00 |
65.63% |
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Abdullah Faisal Al-Braikan |
2000.00 |
5.00% |
1400.00 |
3.50% |
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Al Sahm Holding Co. |
125.00 |
0.31% |
87.50 |
0.22% |
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Othman Holding Co. |
125.00 |
0.31% |
87.50 |
0.22% |
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Jras Holding Co. |
125.00 |
0.31% |
87.50 |
0.22% |
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Maali Gulf Holding Co. |
125.00 |
0.31% |
87.50 |
0.22% |
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Public |
-- |
-- |
12000.00 |
30% |
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Total |
40000.00 |
100.00% |
40000.00 |
100.00% |
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