ACWA Power announces intention to float on Tadawul

power, acwa, intention, tadawul, water,
Saudi Arabia

ACWA Power announces intention to float on Tadawul

RIYADH — The International Company for Power and Water Projects (ACWA Power), a leading developer, investor and operator of power generation and desalinated water plants worldwide, Thursday announced its intention to proceed with an Initial Public Offering (IPO) and list its shares on the Main Market of the Saudi Stock Exchange (Tadawul). The Capital Market Authority (CMA) on June 20, 2021, approved the ACWA Power’s application for the Initial Public Offering of 81,199,299 new ordinary shares, representing 11.1% of the company’s enlarged share capital. The final price at which all subscribers in the offering will purchase shares will be determined at the end of the book-building period. Founded in Riyadh in 2004, ACWA Power is a leading private developer, owner and operator of long-term contracted power generation and desalinated water projects worldwide, which continuously optimizes its portfolio. ACWA Power today has 64 projects in operation, construction or advanced development in 13 countries across three continents, with a total project cost of SR248 billion ($66 billion). The company’s operational capacity across all markets currently provides 20.3 GW of electricity and 2.8 million m3 per day of desalinated water. Once existing projects under construction and in advanced development are completed and brought

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