RIYADH: Saudi Arabia’s Abdullah Al-Othaim Markets Co. has canceled plans to sell shares of its mall business to the public, the company said in a bourse filing. The group halted initial public offering plans for Abdullah Al Othaim Investment Co. due to concerns over valuation and market volatility. Arab News earlier reported that the group had selected GIB Capital to manage an IPO of a 30-percent stake in the Kingdom’s stock market. Known as Al Othaim Malls, the firm specializes in the construction, management and operation of shopping malls, entertainment centers, restaurants and cinemas.