Arabian Centres to launch largest Saudi IPO since 2014

Author:

Reuters

article author:

ID:

1555407667929862900

Tue, 2019-04-16 09:26

RIYADH: Shopping mall operator Arabian Centres, owned by Fawaz Alhokair Group, will this month launch what could be Saudi Arabia’s largest initial public offering (IPO) in five years, which it hopes will raise around $1 billion.
Arabian Centres said on Tuesday it will offer 95 million shares, representing 20 percent of the company, in what would be this year’s first Saudi IPO.
Riyadh has been encouraging more family-owned companies to list in a bid to deepen its capital markets as part of reforms aimed at reducing reliance on oil revenue.