24 Hrs
Source:
مباشر
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Capital Market Authority approves Ratel's stake acquisition
The Saudi Capital Market Authority approved the increase of Ritaj for Urban Development's capital from 500 million riyals to 555 million riyals, aiming to acquire a 47.5% stake in Ajdan Real Estate Development Company. The increase includes the issuance of 55 million new shares, with a general shareholders' circular to be published prior to the extraordinary general assembly to ensure transparency and provide the necessary information for decision-making. Despite approving the increase, the authority emphasized that this does not imply approval of the economic viability of the acquisition and is based on compliance with legal procedures.
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