Arabian Centres Co., a Saudi malls and shopping center operator, is preparing to secure up to $836 million at the top end of the price range for its listing.
The listing comprises 65 million existing shares being sold by the current shareholders and 30 million new shares at $6.93 to $8.80 per share.
The price range implies a market capitalisation of between $3.3 billion and $4.2 billion on the listing, scheduled for late May.
Arabian Centres will use the gross proceeds from the offering to repay credit. More so, the company plans to expand its operations to 27 malls within four years, including four in the next 12 months.