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Retal Seeks Ajdan Stake
Retal Urban Development Company published a shareholders’ circular regarding a capital increase to finance its acquisition of Al Fozan Holding Company’s entire stake in Ajdan Real Estate Development, comprising 14.25 million shares, or 50% of Ajdan’s capital. Under the transaction, 55 million new shares will be issued to Al Fozan. Shareholders will vote on the capital increase at an extraordinary general assembly scheduled for December 3, 2026; the Capital Market Authority approved the increase request in September 2026. The circular aims to explain the transaction structure and implementation mechanisms ahead of the vote. Retal invited shareholders to review its details and seek independent financial advice if needed.
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