Retal Urban Development Boosts Stake in Ajdan Real Estate to 50%

01:39 AM EST, 11/03/2026 (MT Newswires) -- Retal Urban Development Co. (SASE:4322) raised its stake in Ajdan Real Estate Development to 50% from 47.5% through a share-swap deal with AL Fozan Holding. The real estate development company said Tuesday that the number of shares subject to the acquisition remains unchanged at 14,250,000 shares, and the agreed consideration, including the issuance of 55 million new shares in Retal to Al Fozan, also remains the same. Ajdan acquired and subsequently cancelled 1.5 million shares previously held by Sumou International Investment in Ajdan, representing 5% of Ajdan's share capital before the reduction.