After institutions have hedged approximately 248 times the shares offered by Saudi ACWA Power Company, and a total of applications submitted worth nearly 1127 billion riyals, the focus is on the promising future that awaits the company. in which the Public Investment Fund owns an influential stake.
Local investors pumped 1075 billion riyals with 236 times coverage volume, while Gulf investors hedged 36 billion riyals with 8 times coverage volume, and foreign investors pumped 16 billion riyals with volume of coverage 4 times.
The Public Investment Fund announced last year to increase its holding in “ACWA Power” from 33.36% to 50%.
The Fund has described its investment in ACWA Power as “part of the Public Investment Fund’s strategy to support the development of the renewable energy sector within the Kingdom, support the growth of national companies and enable them to be regional and global leaders, while achieving sustainable returns from investments ACWA Power is expected to play an important role in the Fund’s renewable energy program.
A board member of the Saudi Financial Association, Abdullah Al-Rabadi, said in an interview with Al-Arabiya who: The Saudi Public Investment Fund has a strategy It was previously announced that it focuses on investing in promising new sectors, which requires consideration of the asset portfolio and the recycling of capital in it contained.
He pointed out that among these assets are old investments in many titles, some of which have reached a stage of maturity tale to be able to continue without strong support or interference from the fund, and other securities that require rotation or an increase in ownership in they.
Read More About: Business News