Riyadh - Retal Urban Development Company has settled the price of its initial public offering (IPO) on the Main Market of the Saudi Exchange (Tadawul) at a range of SAR 112-120 per share.

The Saudi company intends to offer 12 million ordinary shares, representing 30% of the issued share capital, according to a bourse filing on Wednesday.

SNB Capital Company, the financial advisor and lead manager for the potential IPO, noted that the book-building period for investors will take place during 25-31 May this year.

Meanwhile, the final IPO price will be determined after the book-building period.

Earlier this month, SNB Capital said Retal would proceed with the listing process on Tadawul, after the Capital Market Authority (CMA) had approved the IPO last March.

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).