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International Company for Water and Power Projects (ACWA Power), a leading developer, investor and operator of power generation and desalinated water plants worldwide, has announced its intention to proceed with an Initial Public Offering and list its shares on the Main Market of the Saudi Stock Exchange (‘Tadawul’ or ‘the Exchange’).
Initial Public Offering of 81,199,299 new ordinary shares
The Capital Market Authority (CMA) has approved the company’s application for the Initial Public Offering of 81,199,299 new ordinary shares, representing 11.1% of the company’s enlarged share capital. The final price at which all subscribers in the Offering will purchase shares will be determined at the end of the book-building period.