Arabian Centers IPO priced at lower end, books covered: sources - Reuters

Arabian Centers IPO priced at lower end, books covered: sources - Reuters:

Mall operator Arabian Centers has priced its initial public offering at the lower end of an indicative price range and is set to raise 2.47 billion riyals ($659 million), two sources said.

That would make it the second biggest IPO in Saudi Arabia since National Commercial Bank raised $6 billion in 2014, Refinitiv data showed.

The company priced its IPO at 26 riyals per share, the sources said, against a price range of 26 to 33 riyals per share for the sale of 95 million shares.