Logo ofRetal Urban Development Co.
Retal Urban Development Co. is set to hold an extraordinary general meeting (EGM) on Dec. 3, to vote on the board of directors’ recommendation to increase the company’s capital through the issuance of 55 million new ordinary shares. 
Capital Increase Details
Current Capital
SAR 500 mln
Current No. of Shares
500 mln
New Capital
SAR 555 mln
New No. of Shares
555 mln
Capital Increase Percentage
11%
Reason
Supporting the company’s expansion strategy, strengthening its investments, and expanding its asset base to drive sustainable growth and maximize shareholder value.
Method
By issuing 55 million new ordinary shares to Al Fozan Holding Co. in exchange for acquiring its entire stake in Ajdan Real Estate Development Co., comprising 14.25 million ordinary shares.
in a statement to Tadawul, the company said shareholders will also vote on amending Articles 6 and 7 of its bylaws, pertaining to share capital and share subscriptions. Shareholders will also vote on authorizing the board of directors, or its delegate, to issue any resolutions or take any actions necessary to implement the decisions related to the acquisition.
According to data available with Argaam, Retal signed a share-swap agreement (SSA) with Al Fozan Holding in February to acquire its entire stake in Ajdan. It will acquire 14.25 million ordinary shares, representing 47.5% of Ajdan’s share capital, in exchange for the issuance of new shares.
In September, the Capital Market Authority (CMA) approved Retal’s capital increase from SAR 500 million to SAR 555 million, representing an 11% increase, through the issuance of 55 million ordinary shares to acquire a 47.5% stake Ajdan.
Logo ofRetal Urban Development Co.
Retal Urban Development Co. is set to hold an extraordinary general meeting (EGM) on Dec. 3, to vote on the board of directors’ recommendation to increase the company’s capital through the issuance of 55 million new ordinary shares.
Capital Increase Details
Current Capital
SAR 500 mln
Current No. of Shares
500 mln
New Capital
SAR 555 mln
New No. of Shares
555 mln
Capital Increase Percentage
11%
Reason
Supporting the company’s expansion strategy, strengthening its investments, and expanding its asset base to drive sustainable growth and maximize shareholder value.
Method
By issuing 55 million new ordinary shares to Al Fozan Holding Co. in exchange for acquiring its entire stake in Ajdan Real Estate Development Co., comprising 14.25 million ordinary shares.
in a statement to Tadawul, the company said shareholders will also vote on amending Articles 6 and 7 of its bylaws, pertaining to share capital and share subscriptions. Shareholders will also vote on authorizing the board of directors, or its delegate, to issue any resolutions or take any actions necessary to implement the decisions related to the acquisition.
According to data available with Argaam, Retal signed a share-swap agreement (SSA) with Al Fozan Holding in February to acquire its entire stake in Ajdan. It will acquire 14.25 million ordinary shares, representing 47.5% of Ajdan’s share capital, in exchange for the issuance of new shares.
In September, the Capital Market Authority (CMA) approved Retal’s capital increase from SAR 500 million to SAR 555 million, representing an 11% increase, through the issuance of 55 million ordinary shares to acquire a 47.5% stake Ajdan.
