Listing and Commencement of Trading on Tadawul

22 - May - 2019

Listing and Commencement of Trading on Tadawul



Arabian Centres Company (“Arabian Centres” or “the Company”) today listed its shares on the Main Market of the Saudi Stock Exchange of Saudi Arabia (“Tadawul”) following the successful completion of its Initial Public Offering (“IPO” or the “Offering”). The Company is now trading under the ticker symbol: 4321.

The shares of Arabian Centres were priced at SAR 26 per share, within the Company’s initial price range, giving the Company a market capitalisation of approximately SAR 12.4 billion (US$3.3 billion) at the time of listing[1]

Final allocations were approximately 94.0% to institutional investors entitled to participate in the book-building process and approximately 6.0% to individual investors in the Kingdom of Saudi Arabia.

Mr. Fawaz Alhokair, Chairman of Arabian Centres, said:

“Today marks a new beginning for Arabian Centres, as we begin trading on the Tadawul exchange. This is not only a major milestone for our company, but for Saudi Arabia as a whole. As the largest IPO in Saudi Arabia in the past four years, and the first IPO in Saudi Arabia offered to Qualified Institutional Buyers in the US under Regulation 144A, this is a historic moment for our business and for the country’s capital markets. We wish to thank the Capital Markets Authority and the Tadawul for their efforts in making this vision a reality.”

Mr. Oliver Nougarou, CEO of Arabian Centres, added:

“We are excited about what the future holds for our business and for our shareholders. This is a transformative event for Arabian Centres, as evident in our IPO successfully raising SAR 2.8 billion from more than 27,000 subscribers, which comprised strategic institutional investors within Saudi Arabia and abroad, as well as a strong domestic retail investor base. Our IPO will enable us to embark on our strategy for future growth, specifically our ambitious expansion plans to develop 8 assets and 2 expansions within the next five years. We believe that we are well-positioned for the future considering Saudi Arabia’s ongoing economic reforms, as well as its robust and under-penetrated retail sector with SAR 400 billion in retail sales. We are excited about what the future holds for Arabian Centres and will work diligently to deliver value to those who have put their faith in us.”

The Company has engaged Samba Capital & Investment Management Company, Morgan Stanley Saudi Arabia, NCB Capital Company and Goldman Sachs Saudi Arabia to act as Joint Financial Advisors and Joint Bookrunners. The Company also appointed Citigroup Saudi Arabia, Credit Suisse Saudi Arabia, EFG Hermes KSA, Emirates NBD Capital KSA and Natixis to act as Joint Bookrunners in connection with the Offering. In addition, Samba Capital & Investment Management Company has been appointed as Lead Coordinator and Lead Manager. Furthermore, Samba Financial Group and National Commercial Bank acted as receiving agents for the retail offering.

For more information and for the prospectus, please visit the Capital Market Authority website, Arabian Centers website or the websites of the Joint Financial Advisors Samba Capital & Investment Management Company, Morgan Stanley Saudi Arabia, NCB Capital Company, and Goldman Sachs Saudi Arabia.