Riyadh – Mubasher: SNB Capital Company has announced that Retal Urban Development intends to proceed with the initial public offering (IPO) to list and trade its shares on the Main Market of the Saudi Exchange (Tadawul).

The company aims to list 12 million shares, representing 30% of its share capital, on Tadawul, according to a bourse disclosure on Monday.

SNB Capital, the financial advisor for the potential IPO, noted that the final offer price will be determined after the book-building period.

Last March, the Capital Market Authority (CMA) approved Retal’s request to list on the Saudi stock market.