Logo ofRiyadh Development Co. (ARDCO)
Riyadh Development Co. (ARDCO) said its board recommended on Sept. 22 the repurchase of up to 11.7 million shares, or 5% of its total, to hold as treasury shares. 
The board decision follows its estimation that the company’s share price is below the fair value, ARDCO said in a statement to Tadawul.
This presents an opportunity to maximize total shareholder returns and capitalize on growth opportunities in projects under development, in line with the company’s approved strategy—Invest for Growth, it added.
ARDCO will self-fund the repurchase of the common shares.
The company currently holds no treasury shares, and the repurchased shares will have no voting rights at shareholders’ meetings.
The company noted that the buyback requires approval from the extraordinary general meeting (EGM) and compliance with the financial adequacy requirements set out in the Implementing Regulations of the Companies Law for listed joint-stock companies.
ARDCO stock closed the Sept. 22 session at SAR 16.87, bringing its year-to-date losses to approximately 25% compared to the end of 2025, Argaam data showed.
Logo ofRiyadh Development Co. (ARDCO)
Riyadh Development Co. (ARDCO) said its board recommended on Sept. 22 the repurchase of up to 11.7 million shares, or 5% of its total, to hold as treasury shares.
The board decision follows its estimation that the company’s share price is below the fair value, ARDCO said in a statement to Tadawul.
This presents an opportunity to maximize total shareholder returns and capitalize on growth opportunities in projects under development, in line with the company’s approved strategy—Invest for Growth, it added.
ARDCO will self-fund the repurchase of the common shares.
The company currently holds no treasury shares, and the repurchased shares will have no voting rights at shareholders’ meetings.
The company noted that the buyback requires approval from the extraordinary general meeting (EGM) and compliance with the financial adequacy requirements set out in the Implementing Regulations of the Companies Law for listed joint-stock companies.
ARDCO stock closed the Sept. 22 session at SAR 16.87, bringing its year-to-date losses to approximately 25% compared to the end of 2025, Argaam data showed.
