Riyadh – Mubasher: Saudi Arabia’s Power and Water Company for Jubail and Yanbu (Marafiq) is planning an initial public offering (IPO), according to Bloomberg on Thursday.

The agency highlighted that the IPO will not take place until 2019, as the company has not decided on the size of the stake it will sell or how much it plans to raise from the offering.

Marafiq seeks appointing a financial adviser to work on plans to acquire power plants in the Kingdom, and the company will likely use the same adviser to help managing the IPO, the agency added.