Subscription of “ACWA Power” .. setting the price range between 51 and 56 riyals

Riyad Capital, Citigroup Saudi Arabia, JPMorgan Saudi Arabia and Natixis Investment Saudi Arabia in as financial advisors, institutional bookrunners and underwriters for the potential initial public offering of the International Water and Energy Works Company – ACWA Power announced the determination of the price range for the offer and the start of a construction period. record for the institutions segment.

The company stated in a statement on “Saudi Tadawul” today Tuesday that the price range was set between 51 and 56 Saudi riyals per share.

The offer process consists in the offer of 81,199,299 new ordinary shares, equal to 11.1% of the company’s shares, following the capital increase.

The minimum number of shares offered that can be subscribed for the participating classes is 100,000 shares, while the maximum number is 36,544,986 shares.

Participation in the order book building it is limited to the categories authorized to participate in the order book process building according to the instructions in book building and allotment of shares in initial subscription issued by the Board of the Capital Market Authority.

The price of the offer in public subscription will be determined after the completion of the order book construction process, which will be followed by the adhesion process to the single segment The number of shares in offer that will be initially assigned to the participating categories is 81,199,299 shares offered, representing 100% of the total shares offered, provided that the final allotment takes place after the expiry of the individual subscription period.

In case in to which the individual subscribers subscribe all the shares in offer allotted to them, the subscription register managers have the right to reduce the number of shares assigned to the participating classes to 73,079,370 shares in offer – at least – representing 90% of the total offer of shares.

The order book construction process period for the institutional segment starts Wednesday 15 September 2021 and ends Monday 27 September 2021.

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