UPDATE 2-Mall operator Arabian Centres shares drop below IPO price - Reuters:
Saudi Arabian mall operator Arabian Centres shares traded below their initial public offer price on Wednesday, underperforming the market and reflecting limited retail investor demand.
The Arabian Centres IPO was priced at the lower end of an indicative price band and coincided with a fall in global markets driven by fears over the wider economic impact of a growing trade dispute between the United States and China.
Arabian Centres was the kingdom’s third biggest IPO since Saudi Arabian lender National Commercial Bank raised $6 billion in 2014, according to Refintiv data.
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