The Arab Centers Company announced its proceeds from the initial public offering of Amlak International Real Estate Finance Company, which completed its subscription on Sunday, July 5, 2020.

The company said in a statement to the Saudi market (Tadawul) today, Wednesday, that after fixing the offering price of 16 riyals per share, the value of these proceeds is estimated at about 36.72 million riyals ( Which part of it will be deducted as expenses for the initial public offering), and where this amount represents 30% of the indirect ownership of the (centers) in the capital (property).

It is worth noting that (the centers) owned a total of 8.44% of the capital of Amlak International Real Estate Finance (5.91% after the offering) before the offering (through its subsidiaries).

where the Arab Centers Company investment (Amlak) comes through two of its subsidiaries, with a rate of 5.63% through Makarem International Real Estate Development Company (3.94% after IPO), at a rate of 2.81% through the International Real Estate Development and Investment Company (1.97% after the IPO).

It is also worth noting that the financial impact of these receipts will appear on the company's financial statements for the second quarter period ended September 30, 2020.