Saudi Arabia.. Retal shares rise after announcing the liquidation of the Business Park Fund

The shares of Retal Urban Development Company, listed and traded on the Saudi Stock Exchange (Tadawul), rose after it announced the start of steps to terminate and liquidate its investment fund, by completing a sale deal for the “Business Park” project, in the middle of Wednesday’s trading.

The stock rose by 0.12%, trading at 16.2 riyals per share.

Retal Company revealed that it had received a notification from Bloom Investment Saudi Arabia, which manages the Business Park Fund, stating that it had begun the process of liquidating the fund with a total value of 470 million riyals.

The company confirmed that it is currently working on completing the legal and administrative procedures related to this process.

Retal Urban Development expected that the liquidation of the fund would have a positive impact on its financial results for the year 2024, as its profits from this investment amounted to about 45 million riyals.

The company indicated that the total value of the investment will be revealed by the fund manager, as its share represents 18.82% of the total units of the fund.

Retal also confirmed that the financial returns resulting from this process will be directed towards enhancing sustainable growth and enabling the company’s strategic expansion.

Trading in “Retal” shares at that time occurred through 631 trading transactions, over 58,415 thousand shares, with a trading value approaching 944,533 thousand riyals.

The highest price per share at that time was 16.26 riyals, while the lowest price per share was 16.02 riyals.