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1556446917474924300
Sun, 2019-04-28 05:42
DUBAI: Saudi Arabian mall operator Arabian Centers Co. could raise up to $836 million at the top end of the price range for its initial public offering (IPO), the sale prospectus showed on Sunday.
The IPO would be the country’s biggest since Saudi lender National Commercial Bank raised $6 billion in 2014, according to Refintiv data.
Arabian Centers plans to sell 95 million shares at 26 riyals to 33 riyals per share, the document showed, implying a market capitalizaton of between 12.4 billion riyals and 15.7 billion riyals ($3.3 billion and $4.2 billion) on listing.
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