Saudi Arabia's mall operator Abdullah Al Othaim Markets Company has cancelled plans for an IPO and to list its shares on Riyadh's Tadawul stock exchange.
The company, which planned to sell 30 percent of its shares to the public, said in a statement to the bourse on Sunday that it received a letter from Abdullah Al-Othaim Investment Co. (AOIC), indicating the cancellation. No other details were given.
The company had secured the approval of its board and the Saudi capital markets regulator in March for the IPO.
(Writing by Brinda Darasha; editing by Seban Scaria)