Arabian Centres Co. will start trading today, Wednesday, May 22, 2019 on Saudi Stock Exchange (Tadawul) under the code 4321, with a daily price fluctuation limit of 10 percent per share.
The company’s IPO was the third offering on Tadawul year to date, after Maharah Human Resource Co. and Al Moammar Information Systems Co.
The new entry brings the number of listed firms in Tadawul to 175 along with 17 real estate investment trusts (REITs).
The mall operator offered 95 million shares, representing 20 percent of its capital, Argaam earlier reported.
A 90 percent of total IPO shares were allocated for institutions, with the remaining 10 percent offered to retail investors.
On May 14, a total of 26,480 retail investors subscribed to 5.7 million shares at SAR 26 each, or 6 percent of offered shares.
The offering size is SAR 2.5 billion excluding the purchase option and total offering size is SAR 2.8 billion including 12.83 million over-allotment shares that have been allocated pursuant to the purchase option.
The purchase option will be exercisable wholly or partially upon notice by Goldman Sachs within a maximum of 30 days after debut on Tadawul (the stabilising period).
Arabian Centres was established in 2005 as a limited liability company with SAR 1 million in capital.
In June 2017, the mall operator converted to a closed joint stock company headquartered in Riyadh.
Arabian Centres is a subsidiary of Fawaz Alhokair Group and specializes in mall management, tenant relations and leasing.
It has a portfolio of 19 assets strategically located in ten major Saudi cities.
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Company Profile |
|
|
Company |
Arabian Centres Co. |
|
Stock market |
TASI- Main Market |
|
Company’s core business |
Owns and manages malls |
|
Company’s status |
Active |
|
Company’s capital after IPO |
SAR 4.75 bln |
FAS Real Estate Co. owns a majority stake of 41.6 percent in the company.
|
Shareholder |
Number of shares after IPO (mln) |
Stake % |
|
FAS Real Estate Co. |
197.60 |
41.6% |
|
Fawaz Abdulaziz Alhokair |
38.00 |
8 % |
|
Sulaiman Abdulaziz Alhokair |
38.00 |
8 % |
|
Abdul Majeed Abdulaziz Alhokair |
38.00 |
8 % |
|
Al Fareeda 1 |
19.00 |
4 % |
|
Al Fareeda 2 |
19.00 |
4 % |
|
Al Fareeda 3 |
19.00 |
4 % |
|
Sa’af International Co. |
11.40 |
2.4 % |
|
Public |
95.00 |
20.0 % |
|
Total |
475.00 |
100.00 % |
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