Fawaz Abdulaziz AlHokair & Co. (SASE:4240) plans to offer shares in its shopping malls business in Riyadh in the second quarter of this year, sources told Reuters on January 21, 2019. Arabian Centres Company Ltd, which has applied for an Initital Public Offering with the Capital Market Authority, is eyeing a listing between April and June, said four sources who declined to be named due to commercial sensitivities.

Arabian Centres did not respond to requests for comment. Under the deal, Arabian Centres Company is looking to sell 30% to investors on Riyadh's stock exchange, the Tadawul, the sources said. The group is working with Morgan Stanley and Moelis, and Samba Financial Group, and National Commercial Bank, two of the sources said.

Morgan Stanley and Moelis declined to comment. Samba Financial Group and National Commercial Bank did not immediately respond to requests for comment.