Saudi Arabia PIF-Backed ACWA Power to Seek More than $1 Billion in IPO - Bloomberg
Saudi Arabia’s ACWA Power International is close to announcing an initial public offering to raise more than $1 billion, according to people familiar with the matter.
A Riyadh listing may value the utility at $10 billion or more, said the people, who asked not to be named. An announcement may be made as soon as this week, they said.
ACWA Power declined to comment.
While ACWA runs many natural gas-fired power plants, the Saudi government plans to make it the main vehicle for the kingdom’s major solar and green-hydrogen projects.
No comments:
Post a Comment