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Retal Urban Development sets final IPO price at SAR 120/shr

Retal Urban Development sets final IPO price at SAR 120/shr
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Riyadh - Mubasher: Retal Urban Development Company has set the final price for its initial public offering (IPO) at SAR 120 per share to list and trade its shares on the Main Market of the Saudi Exchange (Tadawul).

With a 62.7% coverage of the total offer shares, the company completed the bookbuilding process for the participating parties tranche, according to a bourse filing on Sunday.

The subscription process for the individual investor tranche is scheduled for 5-6 June, as the company will allocate 1.20 million shares, representing 10% of the total offer shares, to individual investors.

In early May, SNB Capital Company announced that the company seeks to list 12 million shares, representing 30% of its share capital, on Tadawul.