AI Summary
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.
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.
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Capital increase details |
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Item |
Details |
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Current capital |
SAR 7.32 bln |
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Number of shares |
732.56 mln |
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Increase percentage |
4.63% |
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Capital after increase |
SAR 7.66 bln |
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Number of shares after increase |
766.49 mln |
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Key information on rights issue |
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Item |
Detail |
Amount |
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Number of shares offered |
33.93 mln |
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Offering price |
SAR 210/ share |
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Issue size |
SAR 7.12 billion |
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Par value |
SAR 10/ share |
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Entitlement ratio |
Each listed shareholder shall have the right to subscribe to 0.0463 shares for each existing share |
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Record date |
June 30, 2025 (Shareholders of record who are registered with Edaa by the end of the second trading day following the EGM) |
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Trading period |
July 6-13 |
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Subscription period |
July 6-16 |
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Use of proceeds |
Financing current and future projects |
SAR 5.28 to 5.98 bln |
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Mergers and acquisitions |
Up to SAR 1.41 bln |
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Business purposes |
SAR 351 mln |
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Offering expenses |
SAR 88.45 mln |
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Net proceeds |
SAR 7.04 bln |
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Additional information |
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Item |
Detail |
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Financial advisors |
SNB Capital – JPMorgan Saudi Arabia – Citigroup Saudi Arabia |
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Lead manager |
SNB Capital |
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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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