https://arab.news/p2djr
- Less than 10 minutes into the offering, which will end on Sept. 27, requests from private institutions exceeded some 81.2 million shares
The public offering of 抖阴短视频鈥檚 ACWA Power drew strong demand from local and international institutional investors just minutes after the bidding started, CNBC reported, citing banking sources.
Less than 10 minutes into the offering, which will end on Sept. 27, requests from private institutions exceeded some 81.2 million shares, the source added
The Saudi utility company earlier announced the price range for the offering, as it aims to raise $1.2 billion.
Half-owned by the Kingdom鈥檚 Public Investment Fund, the company is selling 81.2 million shares in a range of SR51-SR56 per share or an 11.1 percent stake.
The listing will value ACWA at up to $11 billion 鈥� making it the biggest offering in Riyadh since Saudi Aramco鈥檚 listing.
Its chairman, Mohammed Abunayyan, earlier said investors, including Americans and Europeans, expressed strong interest in investing ACWA Power.