Arabian Centres opens slightly higher in market debut

      Published on Thursday, 23 May , 2019      734 Views     
Arabian Centres opens slightly higher in market debut

  • Business

Shares in Saudi Arabian mall operator Arabian Centres Co opened slightly above its initial public offer price of 26 riyals on Wednesday.

Shares opened at 26.10 Saudi riyals ($6.96) per share in early trade on the Riyadh bourse.

Arabian Centres’ share sale, which raised 2.47 billion saudi riyal ($659 million), was the kingdom’s third biggest since Saudi lender National Commercial Bank raised $6 billion in 2014, according to Refintiv data.

($1 = 3.7500 riyals) ($1 = 3.7500 riyals) (Reporting by Marwa Rashad in Riyadh and Hadeel Al Sayegh in Dubai; Editing by Saeed Azhar)

Category Business | 2019/05/23 latest update at 2:00 PM
Source : Reuters | Photocredit : Google
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