ACWA IPO Listing News: ACWA’s IPO, a company with half the stake of Saudi Arabia’s royal family, will be listed today.

ACWA IPO: The IPO of ACWA, a company with half the stake of the Saudi Arabian royal family, will be listed today.

ACWA IPO.

Renewable energy company ACWA Power International will be listed on the Stock Exchange of Riyadh on Monday. This is Saudi Arabia’s first public offer of over $1 billion after Aramco. Saudi Arabia’s royal family owns half the stake in ACWA. Its sovereign wealth fund PIF is selling an 11.1 percent stake in the company at a price of 56 riyals ($14.93) per share.

After the IPO, the value of the company will be $ 10.9 billion and PIF will have 44 percent holding in it.

Investors showed a lot of interest in this IPO. Saudi Arabia’s royal family is trying to diversify the economy from oil.

Riyadh has been a popular market for public offers in the Middle East over the years. However, the number of companies listing in Abu Dhabi is also increasing.

Aramco’s IPO came two years ago and through this, investors got an opportunity to take some stake in Saudi Arabia’s oil business. About $ 30 billion was raised through this.

ACWA IPO Listing News: ACWA's IPO, a company with half the stake of Saudi Arabia's royal family, will be listed today.
ACWA IPO Listing News: ACWA’s IPO, a company with half the stake of Saudi Arabia’s royal family, will be listed today.

About 70 percent of Saudi Arabia’s renewable projects by 2030 are projected to be ACWA. Experts are of the opinion that the value of the company may triple in the next 7-10 years.

There is a long line of companies making public offers on the Riyadh Stock Exchange. These include the public offer of the stock exchange.

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