Retal Urban Development Co. Initial public offering in Saudi Exchange
Retal Urban Development Co. (“Retal”), a next generation real estate developer of integrated master plan communities offering a portfolio of lifestyle-oriented residential, commercial, and mixed-use properties in the Kingdom of Saudi Arabia announced its Intention to Offer 30% of its share capital to the public through an initial public offering (“IPO”) and listing its shares on the Main Market of the Saudi Exchange (“Tadawul”). Institutional and retail investors will be allowed the opportunity to acquire shares and participate in the long-term growth plans of the Company and the Saudi real estate market., has
Legal Advisors Abdulaziz Alajlan & Partners in association with Baker McKenzie advised Retal regarding offering its shares for initial public offering in Tadawul according to a deal amounting to 1,440 million Saudi Riyals (about USD 384 million). The final price of the public offering was set at 120 Saudi riyals (about USD 31,98) per share.
The Legal Advisors team advising Retal was led by senior legal consultant Robert Eastwood (pictured right) and Of counsel Nadine Nassar (pictured left), working with trainee solicitor Reema AlSalem, Mohammed AlAbdulkarim, associates Ayatt Ashour and Tina–Maria Kassouf.