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ACWA Power Company (“ACWA Power” or “Company”) Announces the Appointment of Financial Advisors for Capital Raise via Rights Issue.
2082
ACWA POWER
0.58
%
1446/02/28 01/09/2024 08:05:53
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of ACWA Power published on the Tadawul website on Tuesday 05/12/1445 AH corresponding to 11/06/2024 AD regarding the Board of Directors’ recommendation to increase the Company’s capital by the amount of SAR 7,125 Million through the offering of a rights issue, the Company would like to announce to its shareholders that CITIGROUP Saudi Arabia, SNB Capital Company, and J.P. Morgan Saudi Arabia Company were appointed as financial advisors to the Company. |
| Name of Financial Advisor | SNB Capital Company. CITIGROUP Saudi Arabia. J.P. Morgan Saudi Arabia Company. |
| Financial Advisor Appointment Date | 2024-08-31 Corresponding to 1446-02-27 |
| Additional Information | This capital raise will support ACWA Power’s new growth strategy, approved in 2023, of tripling its business by 2030, which will require the Company higher equity commitment amounts for its investments/year, while maintaining a strong financial position. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 241.4
Net Change 1.4 (+0.58%)
Value Traded (Sar) 102,065,399
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