Riyadh – Mubasher: The price range for the initial public offering (IPO) of the International Company for Power and Water Projects (ACWA Power) has been set at SAR 51 to SAR 56 per share, the Saudi Exchange (Tadawul) announced on Tuesday.
The IPO includes 81.19 million shares that represent 11.1% of ACWA Power’s capital after the raise. Participating entities can apply to 100,000 shares as a minimum amount, while the maximum number of shares is 36.54 million.
The bidding and book-building period for participating entities will start on 15 September until the 27th of the month. This will be followed by determining the final price for the IPO.
As for individual investors’ subscription for ACWA Power’s IPO, the Bookrunners will have the right to reduce the number of shares allocated to the participating parties to a minimum amount of 73.07 million shares.
Riyad Capital, Citigroup Saudi Arabia, J.P. Morgan Saudi Arabia Company, and Natixis Saudi Arabia Investment Company are acting as Financial Advisors, Bookrunners, and Underwriters for the IPO.
Earlier this month, the company announced its plan to list shares on Tadawul.
