Khobar, KSA: Retal Urban Development Company (“Retal” or “the Company”), a real estate development champion, today listed its shares on the Main Market of the Saudi Stock Exchange following the successful completion of its Initial Public Offering of shares (“IPO” or the “Offering”). The Company is now trading under the ticker symbol: 4322.

The shares of Retal were priced at SAR 120 per share, at the top of the Company’s initial price range, implying a market capitalization at listing of SAR 4,800 million (US$ 1,280 million).

The Company floated 12,000,000 Offer Shares, representing 30% of its issued share capital. Final allocations were 90% to Participating Parties entitled to participate in the book-building process and 10% to individual investors, including Saudi Arabian nationals, foreign residents in Saudi Arabia and GCC nationals.

Eng. Abdullah bin Faisal bin Abdulaziz Al-Braikan, Chief Executive Officer of Retal Development Co., said: “Today represents a watershed milestone in our 10-year growth journey in the Saudi market. We have achieved momentous strides to reinforce Retal’s name and reputation, building some of the most iconic master plan communities, alongside prominent public and private partners. We are incredibly proud of the remarkable trust we have witnessed from institutional and individual investors for our shares throughout the listing process. We look forward to charting the company’s next chapter of success with their continued support and trust.

“The growth prospect for Retal is evident through the growing demand for houses supported by the increasing availability of home financing and the Saudi Government’s plans to increase homeownership to 70% by 2030G.

Our strategic priority is to reinforce the company’s leadership position in the field of off-plan sales, expand market share and further diversify Retal’s customer base in Saudi. Retal’s scalable business model and integrated business units place us in a strong position to capitalise on the upward market demand, maximising value for our shareholders and elevating the lifestyle of Saudi nationals in line with Vision 2030.” retal.com.sa

With respect to the Offering, the Company appointed SNB Capital as the Sole Financial Advisor, Lead Manager, Bookrunner, and Underwriter.

For more information, including the Prospectus, please visit the Capital Market Authority website www.cma.org.sa, the Saudi Exchange website www.saudiexchange.sa or the Retal Urban Development Company website www.retal.com.sa.

-Ends-

ENQUIRIES
Sole Financial Advisor, Lead Manager, Bookrunner, and Underwriter
SNB Capital
Zaid Al Ghoul
Managing Director, Head of Investment Banking Department
SNBC.CM@alahlicapital.com
Media Enquiry
Brunswick Group
Jade Mamarbachi / Joudi Issa
retal@brunswickgroup.com
Retal
Abdullah AlShuwayer
a.alshuwayer@retal.com.sa
retal.com.sa

DISCLAIMER 

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change. Neither the Company nor the Bookrunner or their respective affiliates undertake to provide the recipient of this announcement with any additional information, or to update this announcement or to correct any inaccuracies, and the distribution of this announcement shall not be deemed to be any form of commitment on the part of the Company or the Bookrunner to proceed with the Offering or any transaction or arrangement referred to therein. The contents of this announcement are not to be construed as legal, financial or tax advice.

The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement is not an offer for sale of securities of the Company, directly or indirectly, in or into the United States.

The Offer Shares may not be offered or sold in the United States unless registered under the US Securities Act of 1933, as amended (the “Securities Act”), or offered in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The Company has not registered and does not intend to register any portion of the Offer Shares under the Securities Act or the laws of any state in the United States or to conduct a public offering of any securities in the United States. Copies of this announcement are not being, and may not be, distributed, forwarded or otherwise sent, directly or indirectly, in or into the United States.

This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy, the Offer Shares to any person in the United States, Australia, Canada, South Africa or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The offer and sale of the Offer Shares has not been and will not be registered under the applicable securities laws of Australia, Canada, South Africa or Japan. Subject to certain exceptions, the Offer Shares may not be offered or sold in Australia, Canada, South Africa or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, South Africa or Japan. There will be no public offer of the Offer Shares in the United States, Australia, Canada, South Africa or Japan.

This announcement is being distributed in accordance with the Rules on the Offer of Securities and Continuing Obligations (“OSCO Rules”) issued by the CMA for the purposes of ascertaining the extent to which potential investors are willing to participate in the potential initial public offering of the Company, and should not result in any binding undertakings to acquire shares or subscribe in the Offering. This announcement is for information purposes only and under no circumstances shall constitute an offer or invitation, of form the basis for a decision, to invest in any securities of the Company. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors may only subscribe in the Offer Shares on the basis of the CMA approved Arabic language prospectus to be issued and published in due course (the “Prospectus”). The information in this announcement is subject to change. In accordance with Article 33(d) of the OSCO Rules, copies of the Prospectus will, following publication, be available on the websites of the Company at www.retal.com.sa, the Saudi Exchange at www.saudiexchange.sa, the CMA at www.cma.org.sa and of the Financial Advisor.

This announcement is not an offer document for the purposes of the OSCO Rules and should not be construed as such.

The CMA and the Saudi Exchange do not take any responsibility for the contents of this announcement, do not make any representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this announcement.

This announcement may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “aim”, “anticipate”, “believe”, “can”, “consider”, “could”, “estimate”, “expect”, “forecast”, “intend”, “may”, “ought to”, retal.com.sa

“potential”, “plan”, “projection”, “seek”, “should”, “will”, “would”, or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Any forwardlooking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Many factors could cause the actual results to differ materially from those expressed or implied by any such forward-looking statements, including, among other things, risks specifically related to the Company and its operations, the development of global economic and industry conditions, and the impact of economic, political and social developments in Saudi Arabia. These factors will be described in more detail in the Prospectus. Forward-looking statements speak only as of the date they are made. Each of the Company, the Bookrunner and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise.

There is no guarantee that the Offering will occur and you should not base your financial decisions on the Company’s intentions in relation to the Offering at this stage. This announcement does not constitute a recommendation concerning the Offering. Acquiring Offer Shares to which this announcement relates may expose an investor to a significant risk of losing the entire amount invested. Persons considering investment should consult an investment advisor or an authorized person specializing in advising on such investments.

The Bookrunner is acting exclusively for the Company and no-one else in connection with the Offering. It will not regard any other person as their respective clients in relation to the Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

The contents of this announcement have been prepared by and are the sole responsibility of the Company. None of the Bookrunner or any of its affiliates or respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company or its associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

In connection with the Offering, the Bookrunner and any of its affiliates, may take up a portion of the Offer Shares in connection with the Offering as a principal position and in that capacity may retain, purchase, sell, offer to sell for their own accounts such Offer Shares and other securities of the Company or related investments in connection with the Offering or otherwise. Accordingly, references in the Prospectus, to the Company’s shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, the Bookrunner and any of its affiliates acting in such capacity. In addition, the Bookrunner and any of its affiliates may enter into financing arrangements (including swaps or contracts for difference) with investors in connection with which the Bookrunner and any of their affiliates may from time to time acquire, hold or dispose of securities. The Bookrunner intends to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

PUBLISHING INFORMATION

retal.com.sa

Any offer to acquire shares pursuant to the proposed offering will be made, and any investor should make his investment decision solely on the basis of the information that is contained in the formal offering documents to be published by Retal Urban Development Company in due course in connection with the listing and trading of its ordinary shares on the Saudi Exchange.

This announcement is not an advertisement and not a prospectus and not an offer of securities for sale or subscription in any jurisdiction, including in or into the United States, Canada, Japan, Australia, or South Africa.

Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.