RIYADH, April 16 (Reuters) – The initial public offering (IPO) of shopping mall operator Arabian Centres Company, owned by Fawaz Alhokair Group, could raise about $1 billion, the company’s Chief Executive Olivier Nougarou said on Tuesday.
“We cannot bet on any number. It could be in the range of $1 billion…,” Nougarou told reporters.
The company aims to increase the total number of shopping centres to 27 from 19 in four years, the CEO added. (Reporting by Stephen Kalin and Saeed Azhar, Editing by Sherry Jacob-Phillips)