RIYADH: Saudi Arabia’s ACWA Power shares will debut on the main market of the Saudi Stock Exchange on Monday, October 11, according to a bourse filing.

Half-owned by the Kingdom’s Public Investment Fund, the company is selling 81.2 million shares at SR56 each or an 11.1 percent stake. The institutional tranche, which makes up 90 percent of the IPO, was 248 times oversubscribed, attracting SR1.127 trillion.

The stock will have plus/minus 30 percent daily price fluctuation limits and plus/minus 10 percent static price fluctuation limits, according to a statement on the Saudi Stock Market (Tadawul).

These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards, the daily price fluctuation limits will revert to plus/minus 10 percent and the static price fluctuation limits will no longer apply.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.