Subscription to “ACWA Power” .. fixing the price range between 51 and 56 riyals

Riyad Capital, Citigroup Saudi Arabia, JPMorgan Saudi Arabia and Natixis Investment Saudi Arabia as financial advisers, institutional bookkeepers 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 supply and the start of a construction period Record orders for the institutional segment.

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

The offer process consists of offering 81,199,299 new ordinary shares, representing 11.1% of the shares of the company, after capital increase.

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

Participation in the constitution of the order book is limited to the categories qualified to participate in the process of constitution of the order book in accordance with the instructions for the constitution of the order book and the allocation of shares during the initial subscriptions issued by the Council of the Capital Markets Authority.

The price of the public subscription offer will be determined at the end of the order book constitution process, followed by the individual segment subscription process.The number of offered shares that will be initially allocated to participating categories is 81,199 299 shares offered, representing 100% of the total shares offered, subject to the definitive allocation taking place after the end of the individual subscription period.

In the event that individual subscribers subscribe to all of the offer shares allocated to them, the managers of the subscription register have the right to reduce the number of shares allocated to the participating classes to 73,079,370 offer shares – as a minimum – representing 90% of the total offering shares.

The period of the order book building process for the institutional segment begins on Wednesday September 15, 2021 and ends on Monday September 27, 2021.