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Saudi Arabian utility developer ACWA Power, partly owned by the sovereign Public Investment Fund, plans to repurchase 2 million ordinary shares as treasury stock.
The share repurchase will be financed through the company’s internal resources once the proposal receives shareholder approval, the Tadawul-listed ACWA said in a bourse statement on Thursday.
ACWA Power shares opened slightly up at 154.4 riyals ($41.17) on Thursday morning.
(Writing by Brinda Darasha; editing by Seban Scaria)
