ACWA Power subscription, rights trading to start today

Logo of ACWA Power

The rights trading and subscription period for ACWA Power starts today, July 6.

 

The rights issue trading will end on July 13, while the subscription will close on July 16.

 

For More IPOs

 

ACWA Power plans to offer 33.93 million ordinary shares at SAR 210 each through issuing rights shares worth SAR 7.13 billion.

 

The company intends to use the offering proceeds to consolidate its growth strategy of tripling its assets under management by 2030 and strengthening its financial position.

 

In May, the Capital Market Authority (CMA) approved ACWA Power’s request to increase capital through a rights issue, Argaam reported.

 

On June 30, shareholders ratified the board’s recommendation to increase capital through a rights offering.  

Capital increase details

Item

Details

Current capital

SAR 7.32 bln

Number of shares

732.56 mln

Increase percentage

4.63%

Capital after increase

SAR 7.66 bln

Number of shares after increase

766.49 mln

 

Key information on rights issue 

Item

Detail

Amount

Number of shares offered

33.93 mln

 

Offering price

SAR 210/ share

 

Issue size

SAR 7.12 billion

 

Par value

SAR 10/ share

 

Entitlement ratio

Each listed shareholder shall have the right to subscribe to 0.0463 shares for each existing share

 

Record date

June 30, 2025 (Shareholders of record who are registered with Edaa by the end of the second trading day following the EGM)

 

Trading period

July 6-13

 

Subscription period

July 6-16

 

Use of proceeds

Financing current and future projects

SAR 5.28 to 5.98 bln

Mergers and acquisitions

Up to SAR 1.41 bln

Business purposes

SAR 351 mln

Offering expenses

SAR 88.45 mln

Net proceeds

SAR 7.04 bln

 

Additional information

Item

Detail

Financial advisors

SNB Capital – JPMorgan Saudi Arabia – Citigroup Saudi Arabia

Lead manager

SNB Capital

Underwriters

SNB Capital – JPMorgan Saudi Arabia – Citigroup Saudi Arabia – BSF Capital – FAB Capital – Emirates NBD Capital Saudi – Natixis Saudi Investment

 

Right holders may subscribe, in whole or in part, to the new shares in proportion to the rights existing in their portfolios.

 

Any rump and fractional shares will be offered to institutional investors, according to the prospectus. The underwriter will buy unsubscribed shares after the rump offering.

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