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Financials

Saudi mall operator Arabian Centres opens slightly higher in market debut

RIYADH/DUBAI, May 22 (Reuters) - 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)

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