Goldman Sachs exercises overallotment option on Arabian Centres shares

Arabian Centres Co. said Goldman Sachs Saudi Arabia has exercised the overallotment option granted by FAS Real Estate Co. for 217,678 ordinary shares of Arabian Centres at the offer price of SAR 26.00 per over-allotment share.

Following the exercise of the purchase option, the total offering size will stand at 95.2 million ordinary shares, the company added in a bourse statement on Sunday.

Settlement of the purchase option will take place on June 24.

In May, Goldman Sachs Saudi Arabia executed stabilization transactions for some securities in line with the instructions of the price stabilization mechanism in initial public offerings (IPOs), Argaam reported.

Read: Goldman Sachs executes stabilization transactions for Arabian Centres IPO

The final stabilization transactions were executed on June 19 and 20 Jun for a total of nearly 1.92 shares between SAR 25.9 and 26.0 each.

The stabilization period started from May 22 until June 20, 2019, the statement added.

The mall operator started trading on May 22 on Saudi Stock Exchange (Tadawul) under the code 4321.