ACWA Power shareholders ratify SAR 7.12B capital hike via rights issue

08:54 AM (Mecca time) Argaam
Logo ofACWA Power

Logo of ACWA Power

ACWA Power Co.’s shareholders approved, during the extraordinary general meeting (EGM) held on June 30, the board recommendation to raise the company’s capital by SAR 7.12 billion through a rights issue.

 

Capital Increase Details

Current Capital

SAR 7.32 bln

Total Shares

732.56 mln

New Capital

SAR 7.6 bln

New Total Shares

766.49 mln

Percentage of Increase

4.63%

Number of New Shares​

33.93 mln

Offering Price​

SAR 210/share

Total Offering Value

SAR 7.12 bln​

Par Value

SAR 10

Record Date

To shareholders owning the shares by the end of trading on the EGM date (June 30, 2025)

Reason for Capital Increase

To allow ACWA Power to anchor its growth strategy of tripling the assets under management by 2030 and enhance its financial position.
 
 

According to a statement on Tadawul, the EGM also approved authorizing the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2025.

 

Shareholders further ratified the company’s repurchase of up to 1.61 million shares to be allocated under the employee stock incentive program (ESIP). The repurchase will be financed through the company’s own resources.
The approval included authorizing the board of directors to complete the share buyback within a maximum period of 18 months from the EGM’s approval date.
ACWA Power will retain the repurchased shares for no more than seven years from the approval date, until they are allocated under the ESIP.
Once this period expires, the procedures and regulations specified in the relevant articles will be followed.
The approval also authorized the board of directors to determine the terms of the program, including the offering price per share to employees, if applicable.
In a separate statement, the Saudi Exchange (Tadawul) said that the company’s stock fluctuation limits today, July 1, will be based on a share price of SAR 254.00. Accordingly, the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the subscribed shares into shareholder portfolios before the start of trading on July 3.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.