The public offering of ACWA Power's capital increase shares begins today in the Saudi market.
According to Arabiya Net, the subscription aims to sell 81.2 million shares, representing 11.1% of the company's shares after the capital increase, with 81.2 million shares, in order to finance projects Renewable energy, hydrogen and water desalination in the Middle East and North Africa.
The company has set the share price range between 51 and 56 riyals, bringing the total amount that the company will raise between 4.14 billion riyals ($1.1 billion) and 4.55 billion riyals (1.2 billion riyals). dollars), making it the second largest IPO in Saudi Arabia after Aramco.
The company's capital after the offering is 731 million and 99 thousand and 729 shares, which brings the value of the company between 37.3 billion riyals ($ 9.9 billion) and 40.9 billion riyals ( 10.9 billion dollars), according to Al-Arabiya.net calculations.
Institutions' subscription to the public offering of ACWA Power began today, and ends on Monday, September 27, 2021, with retail subscriptions starting on September 29.
After completing the institutional subscription and book building process, the final offering price of the company's shares will be determined, within the price range set by the company between 51 and 56 riyals per share.< /p>
The minimum number of offering shares that can be subscribed to for the participating classes (institutions) is 100,000 shares, while the maximum is 36,544,986 shares.
Participation in book building is limited to categories that are eligible to participate in the book building process in accordance with the instructions for book building and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority.
The number of offering shares that will be initially allocated to the participating classes is 81,199,299 offered shares, representing 100% of the total offering shares, provided that the final allocation is after the end of the subscription period. individuals.
In the event that individual subscribers subscribe to all of the offering shares allocated to them, the subscription registry managers have the right to reduce the number of shares allocated to the participating classes to 73,079,370 offering shares - as a minimum - representing 90% of the total shares offered.
