GIB Capital, as exclusive financial advisor to Retal Urban Development Company (Tadawul: Retal), announces the publication of the shareholders’ circular in connection with Retal’s proposed acquisition of 14,250,000 shares in Ajdan Real Estate Development Company from Al Fozan Holding Company. These shares represent 50% of Ajdan’s share capital following the cancellation of its treasury shares and represented 47.5% before the cancellation.
The transaction is structured as a share swap, with Retal increasing its share capital from SAR 500 million to SAR 555 million by issuing 55,000,000 new ordinary shares to the seller, an increase of 11%. The agreed valuation for the stake under the share swap agreement dated 14 February 2026 was SAR 881.65 million
Retal has received the Capital Market Authority’s approval of its capital increase application and the Saudi Exchange’s (Tadawul) approval to list the new shares. Completion of the transaction remains subject to approval by Retal’s Extraordinary General Assembly.
View the shareholders’ circular
Arabic version | English version
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