Saudi Al Othaim Family Scraps IPO of Malls Amid Market Rout
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Saudi Arabia’s Al Othaim family has called off its plans to sell shares of its malls business, in a rare instance of an initial public offering in the Middle East being scrapped as a market rally fades.
Abdullah Al Othaim Investment Co. decided to cancel the listing of a 30% stake on the Saudi stock exchange, according to a statement, without specifying the reason.