Huge Saudi Generator Considering an IPO 'Sooner Rather than Later' - Bloomberg

Huge Saudi Generator Considering an IPO 'Sooner Rather than Later' - Bloomberg:

Saudi Arabia’s largest independent power plant developer is considering an initial public offering “sooner rather than later” to help feed its growing need for cash, according to the company’s chief executive officer. Paddy Padmanathan estimated ACWA Power International needs about $800 million a year in cash to help fund its goals for developing $6 billion to $8 billion a year of electricity generation plants. Additional funds could come from partners taking equity stakes in projects, from additional debt and a revolving credit line ACWA has. He declined to put a date on when the IPO might go forward. ACWA sold $814 million of bonds last year and sees an IPO as a way to “add a new currency” to its efforts to finance the business. The move would also increase the transparency of the closely-held company, which is based in Riyadh, and has some 37 operating power plants across eight nations.