|Announcement Detail ||SNB Capital Company in its capacity as the Financial Advisor, Lead Manager, Bookrunner, and Underwriter on the initial public offering of Retal Urban Development Company (“Retal” or the “Company”) announces the price range, as well as the commencement of the Participating Parties book-building period; as per the following details: |
- The price range for the Offering has been set between SAR 112 and SAR 120 per share (the “Price Range”).
- The book-building period for Participating Parties: starts on 25 May 2022G and ends on 31 May 2022G
- The Offering is comprised of a sale of twelve million (12,000,000) ordinary shares, representing 30% of Retal’s issued share capital, by the Selling Shareholders.
- The minimum number of Offer shares to be applied for by the Participating Parties is one hundred thousand (100,000) shares, while the maximum number of shares is One million and nine hundred and ninety-nine thousand and one hundred ninety-nine (1,999,999) shares.
- The participation in the book-building process is confined to the Participating Parties in accordance with the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the Board of the Capital Market Authority.
- The final price per Offer Share will be determined after the completion of the book-building process, to be followed by the Individual Subscribers subscription process, the number of Offer Shares to be provisionally allocated to Participating Parties is twelve million (12,000,000) Offer Shares, representing 100% of the total Offer Shares. Final allocation of the Offer Shares will be made after the end of the subscription period for Individual Investors. In the event that Individual Subscribers subscribe for all the Offer Shares allocated thereto, the Bookrunner shall have the right to reduce the number of shares allocated to Participating Parties to a minimum of ten million eight hundred thousand (10,800,000) Offer Shares, representing 90% of the total Offer Shares.
For more information, please visit the Capital Market Authority website (www.cma.org.sa [cma.org.sa]) and Retal website (www.retal.com.sa). where the Offering Prospectus is published.