ACWA Power sets period for rights trading, new share subscription

Logo of ACWA Power Co.

ACWA Power Co. announced setting the period of its rights issue trading and subscription to new shares, according to a Tadawul statement.

In its final prospectus, the company said that the period of its rights issue trading and subscription to new shares will commence on Sunday, July 6 and end on July 13, 2025. The subscription period will continue until the end of the day on Wednesday, July 16, 2025.

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During this period, all rights holders may exercise their rights to subscribe for the new shares (partly or wholly), in proportion to the rights existing in their portfolios. Rights trading and subscription to new shares will be as defined in the prospectus.

If any rights remain unsubscribed after the end of the subscription period, these rump shares will be offered at no less than the offering price to institutional investors. In the event that institutional investors do not subscribe to all of the rump and fractional shares, then these shares shall be allocated to the underwriters, who shall subscribe for such shares at the offering price on a pro-rata basis.

Investors not wishing to subscribe shall sell their rights during the determined trading period, to avoid a reduction in the value of their investment portfolios due to not benefitting from their rights whether through sale or subscription.

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

To view Rights issue prospectus