Shares of Arabian Centres Co. dropped 6.2 percent in the first 10 minutes of its debut on the Tadawul on Wednesday.
The scrip began trading at SAR 26, but slipped to SAR 24.40. Over 2.4 million shares, valued at SAR 63 million, being exchanged during the first 10 minutes.
A total of 26,480 retail investors subscribed to 5.7 million shares at SAR 26 each, or 6 percent of offered shares.
Arabian Centres was established in 2002 as a closed joint stock company. It is a subsidiary of Fawaz Alhokair Group and specializes in mall management, tenant relations and leasing.
Write to Parag Deulgaonkar at parag.d@argaamplus.com
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