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Market Authority approves Ratal's stake in Ajdan
The Saudi Capital Market Authority has approved an increase in Ritaj Development Company’s capital from 500 million to 555 million Riyals, aimed at financing its acquisition of a 47.5% stake in Ajdan Real Estate Development Company through the issuance of 55 million new shares. The procedures include issuing a circular regarding the capital increase prior to the extraordinary general assembly, containing all necessary details for making an informed investment decision. Emphasis is placed on the importance of conducting thorough due diligence and consulting a financial advisor if necessary. It should be noted that the approval does not evaluate the economic feasibility of the deal but is limited to compliance with legal and regulatory procedures.
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