Goldman to Test Saudi Rules to Limit Stock Swings Post IPO
- U.S. bank acting as stabilization agent for Arabian Centres
- Mall owner is set to debut amid market volatility in the Gulf
Women use their smartphones while visiting the Al Yasmin mall, operated by Arabian Centres, in Jeddah
Photographer: Tasneem Alsultan/BloombergThis article is for subscribers only.
Goldman Sachs Group Inc. will test Saudi Arabia’s new market rules that aim to limit price swings after share sales.
The bank is acting as stabilization agent for mall owner Arabian Centres, which plans to start trading on May 22 after completing the kingdom’s biggest initial public offering since 2015. Arabian Centres raised about 2.47 billion riyals ($659 million) after pricing shares at the bottom end of the range.