AI Summary
ACWA Power wind turbine
ACWA Power announced today, June 4, the publication of its preliminary prospectus for a capital increase through a rights issue valued at SAR 7.12 billion.
The company stated that the number of new shares, the offer price, and the total capital increase will be determined after the market close on the day of the general assembly meeting and prior to the extraordinary general meeting. The details will be presented to shareholders for approval during the general assembly.
The capital increase aims to support its growth strategy and achieve its strategic objectives.
The company scheduled June 30, 2025, for shareholders to vote on the board of directors’ recommendation to increase the capital through a SAR 7.12 billion rights issue.
The Capital Market Authority (CMA) recently approved ACWA Power’s request to increase its capital through a rights issue.
Capital increase details
|
Item |
Details |
|
Current capital |
SAR 7.32 bln |
|
Number of shares |
732.56 mln |
|
Capital after increase |
The number of new shares, offering price, and capital increase amount will be determined after market close on the day of the general assembly meeting and before the EGM. |
|
Number of shares after increase |
|
|
Percentage of increase |
Key information on rights issue shares
|
Item |
Detail |
Amount |
|
Number of shares offered |
Not yet determined |
|
|
Offering price |
Not yet determined |
|
|
Issue size |
SAR 7.12 billion |
|
|
Entitlement ratio |
Details to be determined later |
|
|
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 |
|
|
— |
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 – Saudi Fransi Capital – FAB Capital – Emirates NBD Capital Saudi – Natixis Saudi Investment |
Be the first to comment
Comments Analysis: