Logo of International Company for Power and Water Projects (ACWA Power)
International Company for Power and Water Projects (ACWA Power) will debut on the Saudi Exchange (Tadawul) today, Oct. 11, with the symbol 2082 and under the energy sector.
Daily price fluctuation limits will be set at ±30%, while static price fluctuation limits will be ±10%. These fluctuation limits will apply in the first three days of listing.
From the fourth trading day onwards, the daily price fluctuation limits will revert to ± 10% and the static price fluctuation limits will no longer apply.
ACWA Power is the fifth company to list its shares on Tadawul in 2021, following the initial public offerings (IPOs) of Alkhorayef Water & Power Technologies Co. on March 1, Theeb Rent a Car Co. on March 29, Tanmiah Food Co. on Aug. 4, and solutions by stc on Sept. 30.
In 2020, the market saw the listing of Dr. Sulaiman Al Habib Medical Services Group in March, Amlak International for Real Estate Finance Co. (July), and BinDawood Holding Group (October).
ACWA Power listing will bring the total number of Tadawul-listed companies to 189, excluding the 17 real estate investment traded funds (REITs).
ACWA Power floated an 11.1% stake, or 81.2 million shares, at SAR 56 each, out of which 90% was allocated to institutions. The offering was oversubscribed 248x, according to data compiled by Argaam.
The remaining 10% stake was offered for retail investors, and it was 1,989.96% oversubscribed, as a total of 1.35 million subscribers injected SAR 9.05 billion in the offering.
Company Info:
ACWA Power was established in 2008 in Riyadh to acquire Arabian Company for Water and Power Projects (ACWA Power Projects), which was established in 2004 to participate in the privatization of the water and electricity sector in Saudi Arabia.
The company’s main business focuses on electric power generation, distribution and wholesale of electrical energy, water desalination, establishment of electric power plants and transformers, repair and maintenance of electric power plants and transformers, and wholesale of desalinated water.
The company also participates in projects whose activities include the following:
- Developing, establishing, owning and leasing electric power plants, water desalination and steam plants, as well as carrying out related and ancillary activities.
- Generation and sale of electric power and desalinated water, as well as carrying out related or ancillary activities.
- Operation and maintenance of electricity, water desalination and steam conversion plants.
- Purchase of electric power generation and desalination plants.
- Purchase of real estate and movable assets necessary for the company's objectives.
The company develops, invests in and operates a group of power generation and water desalination plants. It currently has a portfolio that includes 64 plants in operation, under construction or in advanced stages of development.
The company's portfolio includes plants in Saudi Arabia, GCC countries, Egypt, Ethiopia, Morocco, South Africa, Turkey, Uzbekistan, Azerbaijan and Vietnam.
Its expected projects cost nearly SAR 247.5 billion, and are spread across 13 countries in three continents.
|
Company Profile |
|
|
Company |
International Company for Power and Water Projects (ACWA Power) |
|
Market |
Saudi Exchange (Tadawul) |
|
Core Activities |
Generation, distribution, and sale of electric power, as well as water desalination and construction of electric power plants and transformers |
|
Capital after IPO |
SAR 7.311 bln |
The Public Investment Fund (PIF) will be the largest shareholder in the company after the IPO, with a 44.16% stake.
|
Company Shareholders |
||
|
Shareholders |
Equity |
|
|
Number of shares (mln) |
Ownership% |
|
|
Public Investment Fund |
322.88 |
44.16% |
|
Vision Investment Company |
166.32 |
22.75% |
|
Al Rajhi Holding |
81.91 |
11.20% |
|
Mohammed Abdullah Rashid Abunayyan |
26.65 |
3.65% |
|
Al Mutlaq Group Co. |
20.99 |
2.87% |
|
Abdullah Abunayyan Trading Co. |
19.53 |
2.67% |
|
Badad International Co. for Trading and Contracting |
2.96 |
0.40% |
|
AJDA Industrial and Technical Services Co. |
2.96 |
0.40% |
|
Al Toukhi Commercial Group Co. Ltd |
1.56 |
0.21% |
|
Public |
81.20 |
11.1% |
|
Shares owned by employees |
4.14 |
0.57%* |
|
Total |
731.10 |
100% |
*Employees will own this stake via a fund to be established for such a purpose
Comments
{{DisplayName}}
{{ElapsedTime}}