ACWA Power expects to go public in H2 2018

10/06/2018 Argaam

 

Riyadh-based ACWA Power Co. is likely to float its shares in an initial public offering (IPO) during the second half of 2018, chairman Mohammad Abunayyan told Al-Arabiya TV on Sunday.

 

“The board of directors have decided to list the company’s shares. Financial and legal advisors were hired, and we’re aiming to complete the share sale this year,” he said.

 

ACWA has submitted bids for a wind power plant, as part of the Kingdom’s renewable energy projects, and the tender is being evaluated.

 

The utility developer will compete with local and foreign companies to win the renewable power projects, to be tendered by the government in the near term, Abunayyan added.

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